Inox Clean Energy Files ₹6,000 Cr IPO Plan – All You Need to Know. Explained.

Inox Clean Energy, a renewable energy company under the INOXGFL Group, has filed a confidential draft red herring prospectus (DRHP) with SEBI on July 10 to raise around ₹6,000 crore through an initial public offering (IPO). While this filing doesn't guarantee that the IPO will happen, it's a formal first step towards going public. The company is reportedly aiming for a valuation of nearly ₹50,000 crore. If the IPO goes through, it will become the fifth company from the INOXGFL group to be listed on the stock exchanges, following Gujarat Fluorochemicals, Inox Wind, Inox Green Energy Services, and Inox Wind Energy. Founded in 2017, Inox Clean Energy focuses on renewable power generation and manufacturing of solar cells and modules. It operates through two subsidiaries: Inox Neo Energies and Inox Solar. Currently, the company has a total operational capacity of 157 MW, split between 107 MW of wind energy and 50 MW of solar. It’s also developing 400 MW of projects — mostly hybrid (wind + solar) — and has a future pipeline of over 2.2 GW. One of its key assets is a 50 MW wind power plant located in Kutch, Gujarat. On the manufacturing side, Inox Solar is setting up large facilities with 4.8 GW solar cell and 7.2 GW solar module capacity. These are expected to become operational in phases over the next two years, boosting India’s solar manufacturing ecosystem. For the IPO process, Inox Clean Energy has appointed five lead book-running managers: JM Financial, Motilal Oswal, Nuvama, IIFL Securities, and ICICI Securities. This IPO could attract strong interest, given the company’s clean energy focus, expansion plans, and group pedigree — especially as renewable energy remains a high-priority sector in India’s growth story.