- Sebi has kept in abeyance the draft offer documents of Inox Clean Energy Ltd's IPO
- Inox Clean Energy aims to raise up to Rs 10,000 crore through a fresh issue and OFS
- The IPO includes a fresh equity issue of Rs 8,000 crore and Rs 2,000 crore OFS by promoter
Markets regulator Sebi has kept in 'abeyance' the draft offer documents of Inox Clean Energy Ltd, which is looking to raise up to Rs 10,000 crore through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 8,000 crore and an offer-for-sale (OFS) of shares, amounting to Rs 2,000 crore by promoter Devansh Jain, according to the draft red herring prospectus (DRHP).
Gujarat-based Inox Clean Energy, part of the INOXGFL Group, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), proposing to raise up to Rs 10,000 crore through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 8,000 crore and an offer-for-sale (OFS) of shares worth up to Rs 2,000 crore by promoter Devansh Jain, according to the DRHP filed on September 29.
The company may also explore a pre-IPO placement of up to Rs 1,600 crore. In case such a placement is completed before the red herring prospectus is filed with the Registrar of Companies (RoC), the fresh issue size will be reduced by the amount raised through the placement.
A major portion of the fresh issue proceeds is proposed to be used for debt reduction.
Inox Clean Energy plans to deploy Rs 6,000 crore from the net fresh issue proceeds towards repayment or reduction of its debt. The balance amount will be used for general corporate purposes.
The company's consolidated outstanding borrowings stood at Rs 16,781.8 crore as of August 2026, according to the DRHP.
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