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Inox Green Energy Services shares skyrocketed 20% on April 15, marking a second consecutive day of gains, fueled by reports that group company Inox Clean Energy is gearing up for a massive Rs 5,000-crore IPO through SEBI’s confidential filing route. This move could make Inox Clean Energy the fifth listed entity from the $12 billion INOXGFL Group.
As of 2:30 pm, Inox Green shares were trading at Rs 138.82, reflecting a robust 19.63% surge. According to The Economic Times, top investment banks—JM Financial, Motilal Oswal, Nuvama, IIFL Securities, and ICICI Securities—have been onboarded to manage the IPO, which is poised to be one of India’s largest in the private renewable energy sector. Inox Clean Energy operates across solar manufacturing and functions as an Independent Power Producer.
The INOXGFL Group already boasts four listed entities: Gujarat Fluorochemicals, Inox Wind, Inox Wind Energy (merging with Inox Wind), and Inox Green, which debuted in November 2022 at a discount. Despite recovering from recent lows, Inox Green remains below its peak of over Rs 200 from September last year.
In its latest earnings for the quarter ending December, Inox Green reported a 1.95% rise in net sales to Rs 61.13 crore, with net profit soaring to Rs 4.11 crore from Rs 1.50 crore year-on-year. EBITDA climbed 39.5% to Rs 28.46 crore. The stock closed at Rs 160.25 on January 30, 2025, on the NSE.
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