Inox Clean Energy likely to file Rs 10,000 crore IPO with Sebi
Inox Clean Energy is set to launch a ₹10,000 crore IPO by filing a draft red herring prospectus, potentially marking the largest IPO in the Indian private renewable energy sector to date. This deal will consist of new shares issued as well as a sale of existing shares. The company had earlier withdrawn a DRHP but has since seen significant growth in its renewable energy and solar manufacturing…
Deputy Editor: Inox Clean Energy is poised to submit a draft red herring prospectus for a ₹10,000 crore IPO to the Securities and Exchange Board of India (Sebi) before the end of the week, potentially marking the largest IPO from a private Indian renewable energy firm so far, according to sources familiar with the matter. The proposed offering consists of a fresh share issuance by the INOXGFL Group and an offer for sale from certain existing shareholders, as reported.
However, the company did not provide a response to queries from ET. Notably, Government-backed NTPC Green Energy had carried out a similarly sized IPO in November 2024. Earlier this December, Inox Clean Energy had filed a confidential draft red herring prospectus (DRHP) with Sebi but withdrew it subsequently. The new plan arises after the company attracted investments from a diverse group of global and local institutions, as well as through the expansion of its capacity via acquisitions in India and abroad.
Inox Clean Energy operates two interconnected businesses: renewable energy generation and solar photovoltaic modules and cells manufacturing. The company has rapidly grown its power generation and manufacturing businesses over the past 18 months, both organically and through a robust M&A strategy. Inox Neo Energies, the firm's independent power generation division, operates renewable power plants with a total capacity of 5 gigawatts, with an additional 11 gigawatts of projects in the pipeline.
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