Pavan Jain and Vivek Jain each plan ₹10,000cr INOX IPOs
The INOX Group's next generation is taking big steps: Pavan and Vivek Jain (sons of patriarch Devendra Kumar Jain) are each prepping massive IPOs worth around ₹10,000 crore.
This follows a family split in 2021 that divided the business between the brothers.
Pavan Jain, along with Siddharth Jain and Prodair Corporation, is looking to raise up to ₹11,000 crore by selling shares of INOX Air Products.
INOX Clean Energy IPO repays ₹6,000cr
Vivek Jain's INOX Clean Energy also has a ₹10,000 crore IPO in the works: most of this cash (about ₹6,000 crore) will go toward paying off debt.
The company runs a huge renewable energy portfolio across India and Africa and builds solar modules in both India and the US.
Meanwhile, INOX Air Products already holds 22.4% of India's industrial gasses market.