Inox Clean Energy has filed its draft prospectus with SEBI to raise 10,000 crore through an initial public offering. It is proposed to be the largest listing ever by a privately held renewable energy player in India.
This IPO will include a ₹8,000 crore share issuance along with the promoter selling ₹2,000 crore of stake in the IPO through an Offer For Sale. The size of this issuance is similar to the ₹10,000 crore IPO floated by NTPC Green Energy in November 2024.
Inox Clean Energy belongs to the INOXGFL Group. The firm operates on a two-pronged strategy. On one hand, it functions as a power generator having a capacity of 9.29 GW. On the other hand, the company has set up an Indian-US based manufacturing division for modules and cells with 6 GW production capacity.
According to the financial data mentioned in its prospectus, the firm generated revenues worth ₹178 crore during the specified accounting period. Power generation operations accounted for 82.78%. Meanwhile, manufacturing generated 17.08 percent of this revenue figure.
Initially, the company incorporated itself under the name ‘Nani Virani Wind Energy Private Limited’ in November 2017. Subsequently, the company changed its name to ‘Inox Clean Energy’.
