INOX Clean Energy Limited

INOX Clean Energy Limited (ICEL), the parent company of INOX Neo Energies and INOX Solar, and a subsidiary of INOXGFL Group, is one of the most tracked unlisted shares in the Indian renewable energy space. INOX Clean Energy’s unlisted shares are quoted in the range of ₹725-₹795 in mid-2026. The price of the unlisted share has moved between Rs 495 and Rs 795 in the last 52 weeks. Face value is Rs. 1. Indicative market cap seen at Rs 65,000-75,000 crore. The lead managers are JM Financial, Motilal Oswal, Nuvama, IIFL Securities and ICICI Securities. In July 2025, the company had filed a confidential DRHP with SEBI to raise ₹6,000-10,000 crore at a valuation of ~₹50,000 crore. ICEL had raised around ₹3,100 crore from marquee investors including CalPERS, SUN Group Global and Authum Investment in Jan 2026. ICEL is a large pre-IPO growth story with operational wind/solar assets, a large project pipeline and growing solar manufacturing. If you’re using an unlisted shares dealer, be aware that prices can vary significantly between platforms.