Inox Clean Energy IPO: Company Files ₹10,000 Crore IPO Papers With SEBI
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Inox Clean Energy has filed IPO papers with SEBI for a ₹10,000 crore issue, comprising an ₹8,000 crore fresh issue and a ₹2,000 crore offer for sale. The company plans to use ₹6,000 crore of the fresh proceeds to repay debt.
Inox Clean Energy has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise up to ₹10,000 crore through an initial public offering (IPO).
The IPO will include a fresh issue of shares worth ₹8,000 crore and an offer for sale (OFS) of up to ₹2,000 crore by promoter Devansh Jain, according to the draft red herring prospectus (DRHP) filed on September 29.
The company may also raise up to ₹1,600 crore through a pre-IPO placement. If that happens, the amount raised will be deducted from the fresh issue size.
Inox Clean Energy IPO Details And Use Of Funds
A large part of the fresh issue proceeds will go towards reducing debt. Inox Clean Energy plans to use ₹6,000 crore to repay borrowings, while the remaining funds will be used for general corporate purposes.
The company had total outstanding borrowings of ₹16,781.8 crore on a consolidated basis as of August 2026.
Nuvama Wealth Management, CLSA India, Emirates NBD Capital India, HSBC Securities and Capital Markets (India), ICICI Securities, IIFL Capital Services, JM Financial, Motilal Oswal Investment Advisors and UBS Securities India are the merchant bankers to the issue.
Inox Clean Energy Business And Financials
The Gujarat based firm operates in renewable power generation and solar manufacturing.
Its renewable power business had a 9.29 GW portfolio across India and Africa as of August 2026. This included 2.37 GW of operational capacity, about 0.80 GW under construction, 2.99 GW of pipeline capacity and 3.13 GW of future capacity.
The company also manufactures solar photovoltaic modules and has 6 GW of operational solar cell manufacturing capacity across India and the US. It has another 5 GW of solar module capacity under construction in Odisha and around 8 GW of solar cell capacity under construction across India and the US.
For FY26, Inox Clean Energy reported a profit of ₹30.9 crore, compared with ₹1.5 crore in the previous year. Revenue rose to ₹178.1 crore from ₹47.2 crore.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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