Inox Clean Energy Limited, part of the INOXGFL Group, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an IPO aggregating up to ₹10,000 crore. The issue comprises a fresh issue of up to ₹8,000 crore and an offer for sale of up to ₹2,000 crore by the selling shareholder. Devansh Jain and Avarna Jain are the promoters.
Proceeds from the fresh issue will be used towards repayment or prepayment, fully or partly, of certain outstanding borrowings of the company and its subsidiaries, along with general corporate purposes.
The company operates an integrated renewable energy platform spanning renewable power generation and solar manufacturing. As of August 31, 2026, its renewable IPP portfolio stood at 9.29 GW across India and Africa, including 2.37 GW operational, 0.80 GW under construction, 2.99 GW pipeline and 3.13 GW future capacity, according to the CRISIL Report.
Its solar manufacturing business had 6 GW of operational module manufacturing capacity across India and the US, with solar cell manufacturing capacity under construction.
The company said its integrated platform combines solar manufacturing with long-term renewable power generation assets and benefits from the broader capabilities of the INOXGFL Group.
Nuvama Wealth Management, CLSA India, Emirates NBD Capital India, HSBC Securities and Capital Markets, ICICI Securities, IIFL Capital Services, JM Financial, Motilal Oswal Investment Advisors and UBS Securities India are the book running lead managers.
