INOXGFL Group, a leading Indian business conglomerate, is preparing to list its renewable energy arm, INOX Clean Energy, on the domestic stock exchanges in the 2025-26 financial year, aiming to raise ₹5,000 crore, according to industry sources.
The public issue is expected to dilute 10-15% of the company’s equity, valuing INOX Clean Energy at approximately ₹50,000 crore (USD 6 billion). Once listed, it will become the fifth entity from the USD 12 billion INOXGFL Group to debut on Indian exchanges.
The IPO is anticipated to launch in the third quarter of FY26, making it one of the largest fundraising efforts in India’s private renewable energy sector. Sources also revealed that five leading investment banks have been appointed to manage the offering.
INOX Clean Energy functions as an integrated renewable energy platform, encompassing solar manufacturing, including cells and modules, along with operations as an Independent Power Producer (IPP). The IPO is expected to bolster the company’s standing in India’s fast-expanding renewable energy market.
Currently, four entities from the INOXGFL Group are publicly listed: Gujarat Fluorochemicals Ltd (GFL), which specializes in fluoropolymers and battery materials; Inox Wind Ltd, a leading wind turbine manufacturer; Inox Wind Energy Ltd, the holding company merging with Inox Wind Ltd; and Inox Green, which manages operations and maintenance in the renewable sector.
INOXGFL Group operates across chemicals and renewable energy, with subsidiaries focusing on fluoropolymers, battery solutions, wind turbines, and green energy innovations.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
