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Inox Clean Energy Files for Rs6,000 Crore IPO — Largest in Indian Renewables Sector
Jul 12, 2025
Inox Clean Energy, a key subsidiary of the $12-billion Inox GFL Group, has filed for a Rs6,000-crore initial public offering (IPO), which is poised to become the largest IPO in India’s renewable energy space to date. The filing has been made under SEBI’s confidential route. A substantial portion of the IPO will comprise a fresh issue of shares aimed at bolstering the company’s capital base and accelerating its clean energy initiatives.
The Inox Group, promoted by Vivek Jain and Devansh Jain, has diversified operations in green energy, industrial and medical gases, and cryogenic gases. Inox Clean Energy represents the group's third major vertical, focused on developing and operating renewable energy projects, as well as manufacturing solar cells and modules through its subsidiaries Inox Neo Green and Inox Solar.
The IPO follows closely on the heels of other large renewable listings, including Waaree Energies’ Rs4,300 crore IPO completed in October 2024 and the pending Rs3,000 crore issue from Juniper Green. This offering signals growing investor interest in India's clean energy transition and positions Inox Clean Energy as a key player in the sector’s capital markets expansion.