Another big-ticket IPO is expected soon. Inox Clean Green has filed its draft red herring prospectus with SEBI for its initial public offering of Rs 10,000 crore. The book-build issue comprises a fresh issue worth Rs 8,000 crore. 

Promoter Devansh Jain will offload equity worth Rs 2,000 crore through the offer-for-sale route. Nuvama Wealth Management is the book-running lead manager for the issue, while MUFG Intime India will act as its registrar. 

The renewable energy firm may consider a Pre-IPO placement of Rs 1,600 crore. If undertaken, the amount will be deducted from the fresh proceeds. 

Here’s all you need to know about the Inox Clean Green IPO – 

Inox Clean Green IPO: Utilisation of proceeds  

Of the total fresh proceeds, Inox Clean Green proposed to deploy funds worth Rs 6,000 crore towards the re-payment/pre-payment of the loans availed by the company and its subsidiaries. The remaining amount is expected to be utilised for general corporate purposes like funding inorganic growth, meeting working capital requirements, and so on. 

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Inox Clean Green IPO: Segment-wise allocation 

According to the draft red herring prospectus, up to 75% of the net offer shall be available for allocation to qualified institutional buyers, while at least 15% of the portion shall be reserved for non-institutional investors. 

The reserved portion size for retail investors shall not exceed 10% of the total offer.

Inox Clean Green IPO: Key risk factors 

Investment in equity shares is subject to market risks, and likewise Inox Clean Green’s issue is vulnerable to several disruptions, which include the inability to meet regulatory approvals, the inability to complete acquisitions within the stipulated timeline, and reliance on the top ten customers for revenue generation. 

Additionally, risks associated with related party transactions, reliance on external contractors, losses in subsidiaries, and inability to renew partnerships need to be monitored. 

Inox Clean Green IPO: FY26 results

For the financial year ended March 30, 2026, Inox Clean Green posted its restated profit at Rs 30.9 crore, advancing sharply against Rs 1.5 crore reported in the same period last year. Its consolidated revenue from operations for FY26 stood at Rs 178 crore, rising 277% year-on-year from Rs 47 crore reported in FY25.