Inox Clean Energy files DRHP for Rs 10,000 crore IPO
In short
Inox Clean Energy filed its draft papers with Sebi for a Rs 10,000 crore IPO. The deal includes a Rs 8,000 crore fresh issue and a Rs 2,000 crore sale by promoter Devansh Jain.
This matters because the company plans to use about Rs 6,000 crore to repay debt and expand. The reporting does not say when the IPO will launch or what price it will seek.
What the reporting says
Inox Clean Energy filed its DRHP with Sebi for a Rs 10,000 crore IPO, according to the reported market summaries. The issue includes a Rs 8,000 crore fresh share sale and a Rs 2,000 crore offer for sale by promoter Devansh Jain, with about Rs 6,000 crore of proceeds earmarked for debt repayment. The reporting also says the company has a 9.29 GW renewable portfolio and 6 GW of solar module capacity.
Why it matters
Inox Clean Energy filed a draft red herring prospectus with Sebi for a Rs 10,000 crore IPO, including an Rs 8,000 crore fresh issue and a Rs 2,000 crore offer for sale by promoter Devansh Jain. The reporting says about Rs 6,000 crore of proceeds may go toward debt repayment, while the company also plans expansion. It is described as having a 9.29 GW renewable portfolio and 6 GW of solar module capacity across India and the US.