Overview

• The company has submitted its draft red herring prospectus with SEBI and stock exchanges to raise Rs 6,000 crore.
• JM Financial, Motilal Oswal, Nuvama, IIFL Securities and ICICI Securities have been appointed as book running lead managers.
• INOX plans to dilute just over 10% of equity to target a market valuation near Rs 50,000 crore.
• Fresh issuance proceeds will bankroll new solar installations and Independent Power Producer facilities.
• While funding for 400 MW of under-construction renewables is secured, additional equity is required to complete its planned manufacturing units.