India's Inox Clean Energy files IPO via confidential route
A newspaper advertisement revealed that India's Inox clean energy filed IPO draft documents with the country’s markets regulator on Friday via the confidential route.
Mint, citing PTI news agency, reported that the offering could be worth up to 60 billion rupees.
Inox Clean Energy, the latest renewable energy producer, is planning to go public. This follows NTPC Green Energy’s $1.2 billion IPO, which took place in September 2024. As more companies seek to increase investments and expand portfolios, Inox Clean Energy has decided to follow suit.
To reduce carbon emissions, the Indian government aims to achieve at least 500 GW in clean energy capacity.
The confidential route allows firms to submit draft IPO documents to the regulators for feedback, without making details public. This gives them greater flexibility in timing and disclosure.
Inox Clean Energy didn't immediately respond to our request for comment.
If the company is listed, it will be the fifth listed entity in the INOXGFL Group. The group has interests in chemicals, renewable energies, and engineering services.
The listed companies include Gujarat Fluorochemicals (Inox Wind), Inox Green Energy Services, and Inox Wind Energy. $1 = 85.8400 Indian Rupees (Reporting and editing by Janane Venkatraman, Mrigank Dhaniwala).
(source: Reuters)