Inox Clean Energy Files for $1 Billion India IPORajesh Mascarenhas Inox Clean Energy Ltd. has filed a draft prospectus for an initial public offering to raise up to 100 billion rupees ($1 billion). The renewable energy company plans to raise as much as 80 billion rupees through the sale of new shares, while promoter Devansh Jain will offer as much as 20 billion rupees of stock, according to a BSE filing. Inox Clean may also consider a pre-IPO placement of as much as 16 billion rupees and would reduce the fresh issue accordingly, it said.

The company had previously filed draft papers for an IPO in July last year before withdrawing them in December. Inox Clean reported consolidated revenue from operations of 1.78 billion rupees and profit after tax of about 310 million rupees for the fiscal year ended March 2026. Its operational power-generation capacity stands at 2,375 megawatts, supported by acquisitions including the Vena and Sunsource portfolios.

Part of the INOXGFL Group, Inox Clean operates an integrated renewable-energy platform. It is targeting 10 gigawatts of installed renewable-energy capacity and 11 gigawatts of integrated solar-manufacturing capacity by fiscal 2028, according to its website. Nuvama Wealth Management Ltd., CLSA India Pvt., Emirates NBD Capital India Pvt., HSBC Securities and Capital Markets (India) Pvt., ICICI Securities Ltd., IIFL Capital Services Ltd., JM Financial Ltd., Motilal Oswal Investment Advisors Ltd. and UBS Securities India Pvt. are the book-running lead managers.