INOX Clean Energy, a part of the USD 12 billion INOXGFL Group, has taken a significant step towards going public by submitting a confidential pre-filed draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) and stock exchanges. The proposed Initial Public Offering (IPO) aims to raise ₹6,000 crore and will be listed on the main board of Indian stock exchanges.
The company officially announced the filing on Friday, underscoring that this confidential submission aligns with regulatory provisions introduced by SEBI in November 2021. These provisions allow unlisted companies to submit draft papers privately before making them public, providing issuers greater flexibility and control over IPO timing and market conditions.
The IPO, once approved and launched, is expected to include a mix of fresh equity issuance and an offer-for-sale (OFS) component by existing shareholders. The specifics regarding the quantum of fresh issue or OFS are yet to be disclosed.
INOX Clean Energy specializes in delivering integrated clean energy solutions and is part of the larger INOXGFL conglomerate, which has interests across fluorochemicals, renewables, and engineering. The proposed capital raise is likely to fund growth initiatives, debt repayment, and potential expansions in its green energy portfolio.
Investors and market watchers are closely monitoring the development, as INOX Clean Energy joins a growing list of companies looking to tap public markets amid a resurgence in IPO activity in India. The DRHP will become publicly accessible following SEBI’s review and approval.
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