Inox Clean Energy filed DRHP with SEBI for a ₹10,000 cr IPO, using fresh proceeds mainly for debt reduction, per its Sep 29 filing.

Inox Clean Energy Limited, part of the INOXGFL Group, filed its draft red herring prospectus, or DRHP, with the market regulator.

A DRHP is the draft document a company must submit before it can sell shares to the public.

Here is how the money would be raised. Up to Rs 8,000 crore would come from fresh shares.

Promoter Devansh Jain would sell shares worth up to Rs 2,000 crore in an offer for sale, and that cash goes to him, not the company.

The firm may also raise up to Rs 1,600 crore through a pre-IPO placement, which is a private share sale before the public issue.

If that goes ahead, the fresh issue shrinks by the same amount. Debt is the main target. Rs 6,000 crore from the fresh issue is meant to repay borrowings.

In August 2026, they totaled Rs 16,781.8 crore. The money left over will go toward regular business expenses.

This is a second try. The company filed draft papers in July 2025 and withdrew them in December.

The business runs on two legs, renewable power generation and solar manufacturing. As of 31 August 2026, its power portfolio across India and Africa stood at 9.29 GW.

Of that, 2.37 GW is operational, around 0.80 GW is under construction, 2.99 GW is in the pipeline and 3.13 GW is planned for later. Its operational solar manufacturing capacity across India and the US is 6 GW.

The latest yearly numbers show a small but fast-growing base. In the year ended March 2026, revenue rose to Rs 178.1 crore from Rs 47.2 crore. Profit came in at Rs 30.9 crore against Rs 1.5 crore a year earlier.

Nine banks and brokerages are managing the issue, among them Nuvama, CLSA India, ICICI Securities and UBS Securities India.

The papers still need regulatory review, and no opening date or price band has been shared yet.

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