Shares of Inox Green Energy Services surged 20 percent on April 15, continuing the upward momentum for a second straight session on news report that group company Inox Clean Energy is preparing to file draft paper for its Rs 5,000-crore IPO via Sebi’s confidential route.
As of 2:30 pm, Inox Green shares are trading at Rs 138.82 which reflects a gain of 19.63 percent.
The Economic Times reported that five bankers — JM Financial, Motilal Oswal, Nuvama, IIFL Securities, and ICICI Securities — have been roped in to manage the offer. If cleared, the listing will make Inox Clean Energy the fifth company from the $12 billion INOXGFL Group to debut on the bourses.
The upcoming IPO of Inox Clean is expected to be one of the largest in India’s private renewable energy space. The company operates across the solar manufacturing value chain and functions as an Independent Power Producer.
The group's four listed entities include Gujarat Fluorochemicals, Inox Wind, Inox Wind Energy (in the process of merging with Inox Wind), and Inox Green, which listed in November 2022. Inox Green had debuted at a discount, but has since recovered from recent lows, though still off its all-time high of over Rs 200, seen in September last year.
As per its last earnings update for the quarter ending December, Inox Green reported a increase in net sales of 1.95 percent on-year to Rs 61.13 crore, while net profit jumped sharply to Rs 4.11 crore from Rs 1.50 crore a year ago. EBITDA grew 39.5 percent to Rs 28.46 crore. The stock had closed at Rs 160.25 on January 30, 2025, on the NSE.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
