INOXGFL Group has made plans to list INOX Clean Energy on local exchanges in FY26, raising ₹5,000 crore via an IPO. This makes INOX Clean Energy the fifth group entity worth $12 billion to be listed, after Gujarat Fluorochemicals Ltd, Inox Wind Ltd, Inox Wind Energy Ltd, and Inox Green.
Major points:
The IPO is likely to debut in Q3 FY25-26.
Target valuation: ₹50,000 crore ($6 billion).
INOX Clean Energy has an integrated renewable platform across solar manufacturing (cells and modules) and an Independent Power Producer (IPP) platform.
Proceeds from the issue will strengthen INOX Clean Energy's position in India's growing renewable energy space as the world accelerates towards sustainability targets. Five top investment banks have been appointed to handle the issue.
This IPO will be among the biggest fund-raising efforts in India's private renewable energy industry.
Sources: Business Standard, CNBC TV18