Inox Group’s Ambitions and Inox Clean Energy’s IPO Plans

The INOXGFL Group , valued at USD 12 billion, is accelerating its push into the renewable energy sector with plans to take Inox Clean Energy public in FY26. The company aims to raise up to ₹5,000 crore (USD 600 million) through an IPO, targeting a valuation of ₹50,000 crore (USD 6 billion), which would make it one of India’s largest listings in the private renewable energy space. As part of its expansion strategy, Inox Clean Energy recently completed the acquisition of Skypower Solar India for an enterprise value of ₹265 crore, adding 50 MW (AC)/57.5 MW (DC) of solar power assets in Madhya Pradesh to its portfolio. This acquisition strengthens Inox Clean’s position in the fast-growing clean energy market. The IPO, expected to launch in Q3 of FY26, will be the group's fifth listing and reflects INOXGFL’s broader ambition to scale its renewable business and capitalise on India’s energy transition.