Inox Clean Energy has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed ₹10,000 crore initial public offering (IPO), marking a significant step toward expanding its renewable energy business.
The proposed IPO comprises a fresh issue of equity shares worth up to ₹8,000 crore and an offer for sale (OFS) of up to ₹2,000 crore by promoter Devansh Jain. The company is also considering a pre-IPO placement of up to ₹1,600 crore, subject to applicable approvals and market conditions.
Inox Clean Energy has built a renewable energy portfolio of around 9.29 GW, while its operations also include solar module manufacturing. The company has an operational solar module manufacturing capacity of approximately 6 GW, supporting its strategy of combining renewable power generation with manufacturing capabilities.
A major portion of the IPO proceeds is proposed to be used toward repayment of debt and reduction of financing costs. The move is expected to support the company’s financial position while enabling further investment in its renewable energy operations.
Devansh Jain, Executive Director of the INOXGFL Group, has been closely associated with the group’s expansion in the renewable energy sector, including its presence across wind, solar manufacturing and clean power generation.
With renewable power generation and solar manufacturing under its broader business platform, Inox Clean Energy is positioning itself as an integrated player in India’s clean energy ecosystem. The proposed public offering comes as renewable energy capacity and domestic clean energy manufacturing continue to gain importance in India’s energy transition.
