India's Inox Clean Energy files for $1 billion IPO

India’s Inox Clean Energy filed for an initial public offering worth up to 100 billion rupees ($1.04 billion), draft papers showed on Tuesday.

The energy renewable producer plans to issue about ₹80 billion worth of new shares and a ₹20-billion offer for sale by existing shareholders.

Inox Clean Energy had filed IPO draft papers with the country’s markets regulator via the confidential route last year.

The company had acquired Vena Energy India’s 6-gigawatt renewable energy portfolio, bolstering its operating capacity and project pipeline in June.

The firm, part of the chemicals and renewables conglomerate INOXGFL Group, aims to have 10 gigawatt of renewable power generation capacity and 11 gigawatt of solar manufacturing capacity by FY 2028.

($1 = 95.9800 Indian rupees)

Also Read: Theatre releases this week: Drishyam: The Conclusion, Baththa and Verity