Home » CleanTech/ Renewable Energy » Inox group plans to tap capital market for three companies

Inox group plans to tap capital market for three companies

According to reports, Inox Group, which has presence in diverse businesses including Industrial Gases, refrigerant, chemicals, cryogenic engineering, renewable energy and entertainment, is planning to hit the capital market for three of its companies. While wind power solutions provider Inox wind is expected to raise Rs 1000 crore from the market this year, two more group companies — Inox India and Inox Renewables are also in the pipeline to be listed.

“As a group we are very open to listing companies. Inox wind is going to the first one to get listed sometime this year for which we are awaiting final approval from Sebi. We are also looking at listing two more companies — Inox India Ltd, which the largest cryogenic engineering company in the country and Inox Renewables Ltd, one of the largest player in wind power,” Devnash Jain, director of the group told Busniess Standard.

Devnash Jain, who belongs to the promoter family, that controls the $ 2 billion group, is involved in spearheading the group’s wind power solutions providing business as executive director of Inox Wind.

“Inox Wind is the subsidiary of Gujarat Fluorochemicals, which already a listed entity. So it’s complies with most of Sebi guidelines. Inox Wind filed DRHP (Draft Red Herring Prospectus) with Sebi last. Our merchant bankers indicates we may get the approval from regulators soon. We are planning to raise Rs 1000 crore via public offers in this year only,” Jain said.Inox Wind, which manufactures wind turbines and related components, is implementing projects in states like Gujarat, Rajasthan, Maharashtra and Andhra Pradesh. It has recently secured a Rs 900 crore order for 170Mw project in Madhya Pradesh from Continum Wind Energy — a Singapore-based company , indirectly majority owned by Morgan stanley Infrastructures partners.The listing of other two companies — Inox India and Inox Renewables. Inox India is country’s largest cryogenic engineering company with a annual turnover of about Rs  1500 crore. Inox Renewables, on the other hans, is the largerst independent wind power producer with assets of about 250 MW, under construction capacity of 300 MW and a development pipeline of over 1000 MW.

The group currently has two listed entities — Gujarat Fluorochemicals, largrgets produces refrigerant, chloromethane and carbon credits in India and Inox Leisure — country’s second largest multiplex chain in India with 80 multiplexes having 313 screens in 44 cities.

Comments are closed.

Scroll To Top