INOX Clean Energy has confidentially filed draft papers with markets regulator SEBI to raise Rs 6,000 crore through an IPO, potentially the largest in the clean energy sector in India.
The company, with a proposed equity dilution of over 10%, aims for a market capitalization of around Rs 50,000 crore by targeting a major portion of the public offer for setting up new solar and IPP facilities.
INOX Clean Energy, a part of the INOXGFL Group, has a total operational capacity of 157 MW, including 107 MW of wind and 50 MW of solar power.
The company plans to incur a capital expenditure of Rs 6,500 crore to complete its under-construction renewable energy and manufacturing capacities, to be funded through project-level debt, cash accruals, and equity contributions.