INOX Group Plans ₹5000 Cr IPO for INOX Clean Energy

A company lists on exchanges like the NSE or BSE to raise capital by offering shares to the public for the first time through Initial Public Offering (IPO). This enables growth, expansion, and investment in new opportunities. Listing also enhances the company’s credibility and visibility while providing liquidity, allowing shareholders to buy or sell shares with ease.

INOXGFL Group, one of the leading business Groups in India, is a forerunner in diversified business segments comprising fluoropolymer, fluorochemicals, battery chemicals, wind turbines, and renewable energy. The Group has plans to list its fifth entity by FY26 in the renewable energy space. 

What’s the News?

The INOXGFL Group is preparing to take INOX Clean Energy public, aiming to raise 10-15 percent of the company’s equity at a valuation of Rs 50,000 crore (USD 6 billion), according to industry sources cited by PTI.

The group plans to raise Rs 5,000 crore through the public offering. Once the process is completed, INOX Clean Energy will become the fifth entity within the INOXGFL Group to be listed on Indian exchanges. The IPO is expected to be one of the largest fundraising efforts in India’s private renewable energy sector.

The INOX Clean Energy IPO is projected to debut on the stock market in the third quarter of the 2025-26 financial year. Sources further revealed that INOXGFL has appointed five prominent investment banks to manage the offering. 

INOX Clean Energy operates as an integrated renewable energy platform, covering solar manufacturing (including cells and modules) and serving as an Independent Power Producer (IPP). The IPO aims to strengthen the group’s position in India’s rapidly growing renewable energy market.

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Business Verticals

The Group primarily focuses on two key verticals: chemicals and renewable energy, operating through six companies: Gujarat Fluorochemicals Limited (GFL), GFCL EV Products Limited, GFCL Solar & Green Hydrogen Products Limited, Inox Wind Limited, Inox Green Energy Services Limited, and Inox Wind Energy Limited.

In the chemicals segment, Gujarat Fluorochemicals Ltd is India’s largest producer of Fluoropolymers, with additional products in refrigerants, chemicals, and fluorospeciality. Its subsidiary, GFCL EV Products Ltd, provides solutions across the entire battery and electric vehicle supply chain.

In the renewable energy sector, Inox Wind Ltd offers integrated wind energy solutions, while Inox Green Energy Services Ltd provides long-term O&M services for wind farms, focusing on the maintenance of wind turbine generators (WTGs) and associated infrastructure for power evacuation.

INOXGFL Group Overview

INOXGFL Group, a leading business conglomerate in India, is a front-runner in diverse sectors, including fluoropolymers, fluorochemicals, battery chemicals, wind turbines, and renewable energy.

The INOXGFL Group, valued at $12 billion, consists of four publicly listed companies. It generates a group revenue of Rs 6,612 crore and employs over 6,400 professionals. 

Written By Adhvaitha Nayani

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