The company chooses JM Financial, Motilal Oswal, Nuvama, IIFL Securities, and ICICI Securities as their investment bankers to handle this issue.
If this IPO launched successfully, this might be the best deal, if not one of India’s largest renewable energy companies to raise ₹5000 crore. This deal shows that the renewable energy sector is attracting more investors.
This IPO comprises mostly a fresh issue and a small part of the Offer-for-sale component by promoters, the final details will be out once the company files its draft papers. The funds raised through the fresh issue will be utilized to build the new facilities in solar and IPPs (Independent Power Producers).
The company INOX Clean Energy planned to launch its IPO when India was trying hard to achieve its target of 500 GW of green energy by 2030. According to the sources, the launching of this IPO could make the company’s valuation at around ₹50,000 crore. Meaning if the company goes public, it is about to raise 10% of the total value of the company.
The news of INOX Clean Energy launching its IPO has been in the news lately. After some of the established companies like Waaree Energies, JSW Energy, and Adani Green Energy successfully launched their IPO rapidly growing, now INOX could be a bigger player in the renewable energy sector with this launch.
Incorporated in 2012, INOX Green Energy Services Limited is one of the well-known Indian companies that manages the operation and maintenance (O&M) of wind power projects. The company specializes in offering long-term solutions to ensure the smooth operations of wind farms. It also manages wind turbines and the shared infrastructure.
What makes INOX Energy unique from its competitors is that it has other supporting companies, including INOX Neo Energies, INOX Solar, INOX Wind and its units, INOX Green and INOX Renewable Solutions, building a strong renewable energy setup that no one can break.
