INOX Green Energy Files DRHP Confidentially With SEBI for ₹6,000 Crore IPO

INOX Clean Energy, part of the $12 billion INOXGFL Group, has confidentially submitted its draft papers to the Securities and Exchange Board of India (Sebi) to raise ₹6,000 crore through an Initial Public Offering (IPO), as per news reports. This offering could mark the largest IPO in India’s clean energy sector to date, surpassing previous filings by Juniper Green and Waaree Energies. 

The company seeks a market valuation of around ₹50,000 crore, with an expected equity dilution of over 10%. A significant share of the issue is expected to be a fresh issue, intended to finance upcoming projects in solar and Independent Power Producers (IPPs).

Expansion Plans and Capital Expenditure

According to the CareEdge Report, INOX Clean Energy plans to invest approximately ₹6,500 crore to complete its renewable energy projects and expand its manufacturing infrastructure. This investment will be backed by a combination of project-specific debt, cash flows from operational projects, and equity contributions from investors and promoters. 

While funding for ongoing renewable energy developments is already secured, further capital will be required to set up new manufacturing units, particularly in solar component production.

Current Operations and Future Pipeline

INOX Clean Energy operates through its subsidiaries, INOX Neo Energies and INOX Solar, focusing on renewable power generation and the production of solar modules and cells. The company currently manages an installed capacity of 157 MW, comprising 107 MW of wind and 50 MW of solar energy. 

In addition, 400 MW is presently under construction, including 350 MW of hybrid and 50 MW of solar energy. A robust pipeline of over 2.2 GW of upcoming projects further underlines the firm’s long-term growth strategy in the clean energy domain.

Read More: INOX India Secures ₹373 Crore Orders Across Cryogenic Segments, Boosting Global Presence!

Conclusion 

INOX Clean Energy’s ambitious IPO signals strong growth plans and positions it as a major player in India’s clean energy sector, backed by a solid project pipeline and expanding manufacturing capabilities.

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