Overview
- The investment was announced on July 2, 2026, when Rising Sun Holdings, the Adar Poonawalla family office vehicle, bought roughly a 1% stake in Inox Clean for ₹700 crore.
- The deal implies a near-₹70,000 crore valuation for Inox Clean while promoters retain a reported majority stake above 90 percent.
- Company statements say the proceeds will finance new renewable projects, expand solar manufacturing capacity and provide cash for further domestic and overseas acquisitions.
- Inox Clean has completed ten acquisitions in the past ten months across IPP and solar manufacturing, including Boviet Solar’s manufacturing assets, Vena Energy’s India business, Vibrant Energy, SunSource India operations and SkyPower’s Africa arm.
- Management has set concrete FY28 targets of about 15 GW of installed capacity and 11 GW of manufacturing capacity, and the new funding plus prior institutional backers such as CalPERS position the group to pursue an eventual IPO if execution meets those milestones.