(Reuters) -India’s Inox Clean Energy filed IPO draft papers with the country’s markets regulator via the confidential route on Friday, a newspaper advertisement showed.
The offering could be worth around 60 billion rupees ($698.97 million), the Mint newspaper reported, citing news agency PTI.
Inox Clean Energy is the latest renewable energy producer planning to go public, following NTPC Green Energy’s $1.2 billion IPO in September 2024, as more companies look to ramp up investments and expand their portfolios.
The Indian government is targeting at least 500 GW of clean energy capacity by 2030 to cut carbon emissions.
The confidential route allows companies to submit draft IPO papers to the markets regulator for feedback without making the details public, giving them greater flexibility on timing and disclosure.
Inox Clean Energy did not immediately respond to a Reuters request for comment.
If it is listed, the firm will become the fifth listed entity from the INOXGFL Group, which has interests across chemicals, renewable energy, and engineering services.
Its listed firms include Gujarat Fluorochemicals, Inox Wind, Inox Green Energy Services and Inox Wind Energy.
($1 = 85.8400 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
