On July 10, Uttar Pradesh-based solar module and cell manufacturer Inox Clean Energy submitted a draft red herring prospectus through the confidential route to SEBI, aiming to raise capital through an initial public offering (IPO).
JM Financial, Motilal Oswal, Nuvama, IIFL Securities, and ICICI Securities are assigned as the lead managers of the IPO.

Filing a Pre-filed DRHP does not guarantee that the company will launch the IPO.

According to media reports citing market sources, the INOXGFL Group company is expected to raise a minimum of ₹6,000 crore through its initial public offering and is potentially targeting a valuation of approximately ₹50,000 crore.

In its public announcement published in a business newspaper, Inox Clean Energy stated that it has submitted the pre-filled draft red herring prospectus to SEBI and the stock exchanges for the proposed listing of its equity shares on the mainboard.

Inox Clean Energy develops is one of the leading companies in terms of developing renewable energy projects and manufactures solar cells and modules. This all activities is going through it’s two subsidiaries Inox Neo Energies and Inox Solar.