INOX Clean Energy proposes ₹6,000-cr IPO
INOX Clean Energy is gearing up for India's biggest clean energy IPO yet—filing to raise ₹6,000 crore and aiming for a massive ₹50,000 crore valuation.
This would top the records set by Juniper Green and Waaree Energies.
Who are they and what do they do?
Part of the $12 billion INOXGFL Group, INOX Clean Energy builds wind and solar power projects across India. It also makes solar cells and modules through its subsidiaries.
Right now, they run 157 MW of wind and solar capacity with another 400 MW under construction—and they've got plans lined up for over 2.2 GW more.
What will the funds be used for?
The funds are set to boost new solar manufacturing units and ramp up renewable energy projects.
The IPO will dilute a bit over 10% equity and is being managed by big names like JM Financial and Motilal Oswal.
If you're watching India's green energy push, this is one to keep an eye on!