INOX Group scions file for ₹10,000 Crore IPOs each
The scions of the INOX Group have filed for two separate IPOs, each aiming to raise approximately Rs 10,000 crore. The funds will support industrial gas operations and renewable energy expansion, including debt repayment and manufacturing capacity growth.
Why it matters
These massive IPO filings highlight the current surge in capital raising by Indian conglomerates and the growing investor interest in renewable energy and industrial infrastructure.
The ongoing Initial Public Offer (IPO) rush has got the Gen-Next of Indian conglomerates getting into the mega fund-raising spree. This time, it is the scions of INOX Group who under two different companies have filed IPO draft offer documents to mobilise ₹ 10,000 crore each from the stock market.
The INOX Group’s division was formally settled in November 2021 through a family accord signed by patriarch Devendra Kumar Jain, splitting the near century-old conglomerate between his two sons, Pavan Jain and Vivek Jain.
Pavan Kumar Jain and his son Siddharth Jain as promoters of INOX Air Products along with U.S. firm Prodair Corporation, India’s largest integrated industrial gases company by revenue have filed papers for potential IPO size of approximately ₹10,000–₹11,000 crore (size as per industry and investment banking sources). It will be a 100% Offer For Sale.
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