SEBI halts Inox Clean Energy ₹10,000 cr IPO amid probe
SEBI has hit the brakes on Inox Clean Energy's ₹10,000 crore IPO while it investigates ongoing transactions involving the INOXGFL group entities.
The main issues? Discrepancies in reported sale amounts and concerns about how certain subsidiaries were valued and sold.
SEBI probes ₹290 cr sale mismatch
SEBI noticed a mismatch between a ₹290 crore board-approved sale and only ₹90 crore showing up in the company's books.
They're also looking into why companies like Inox Neo Energies were sold at face value, even though they were later valued much higher.
Separately, Inox Wind received SEBI summons, and Devansh Jain received a separate summons concerning SEBI's investigation into trading in PVR Inox shares.
For now, Inox Green Energy Services says any errors were unintentional, and no show-cause notice, order, or adjudication proceedings were initiated by SEBI against Inox Green as of the filing date.