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THESE MATERIALS ARE BEING MADE AVAILABLE ON THIS WEBSITE TO COMPLY WITH
SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE
REQUIREMENTS) REGULATIONS, 2018 (“SEBI ICDR REGULATIONS”), AS AMENDED.
IMPORTANT: You must read and agree with the terms and conditions of the following disclaimer before
continuing.
The following disclaimer applies to the draft red herring prospectus of INOX Clean Energy Limited (the
“Company”) dated September 29, 2026 (the “Draft Red Herring Prospectus”) filed with the Securities and
Exchange Board of India (“SEBI”), BSE Limited and the National Stock Exchange of India Limited (the, “Stock
Exchanges”), as applicable, and hosted on this website in connection with the initial public offering of the equity
shares of face value of ₹1 each (“Equity Shares”) of the Company (the “Offer”). You are advised to read the
following notice carefully before reading, accessing or making any other use of the Draft Red Herring Prospectus.
By accessing the Draft Red Herring Prospectus, you agree to be bound by the following terms and conditions,
including any modifications to them from time to time.
Access to the Draft Red Herring Prospectus does not constitute a recommendation by the Company, Nuvama
Wealth Management Limited, CLSA India Private Limited, Emirates NBD Capital India Private Limited, HSBC
Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Capital Services Limited,
JM Financial Limited, Motilal Oswal Investment Advisors Limited, and UBS Securities India Private Limited
(collectively, the “Book Running Lead Managers”), the members of the Syndicate (as defined in the Draft Red
Herring Prospectus) or any of their respective affiliates or any other person to subscribe to the Equity Shares
offered in the Offer.
The Draft Red Herring Prospectus is directed at, and is intended for distribution to, and use by, residents of India
only. Residents of countries other than India are not authorized to view or use the information in this portion of
our website. The information in this portion of our website, including the Draft Red Herring Prospectus, is not
intended for, and may not be accessed in or by, or is not for publication or distribution, directly or indirectly, in or
into the United States. The contents of the Draft Red Herring Prospectus is for your information only, and you
acknowledge that access to the Draft Red Herring Prospectus is intended for use by you only and you agree not
to forward the Draft Red Herring Prospectus on to any other person, internal or external to your company, in whole
or in part, or otherwise provide access via e-mail or otherwise to any person. No part of the contents of the Draft
Red Herring Prospectus shall be copied or duplicated in any form by any means or redistributed.
The Draft Red Herring Prospectus has been hosted on this website as prescribed under Regulation 26(1) of the
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as
amended (the “SEBI ICDR Regulations”). Our Company has taken all necessary steps to ensure that the contents
of the Draft Red Herring Prospectus as appearing on this website are identical to the Draft Red Herring Prospectus
filed with the SEBI. You are reminded that documents transmitted in electronic form may be altered or changed
during the process of transmission and consequently, neither the Company, Book Running Lead Mangers, nor any
of its affiliates, directors, agents, officers, representatives, advisers or employees accepts any liability or
responsibility whatsoever in respect of alterations or changes which have taken place during the course of
transmission of electronic data.
The Equity Shares have not been recommended by any U.S. federal or state securities commission or regulatory
authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of
the Draft Red Herring Prospectus or approved or disapproved the Equity Shares. Any representation to the contrary
is a criminal offence in the United States. In making an investment decision investors must rely on their own
examination of our Company and the terms of the Offer, including the merits and risks involved.
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The Draft Red Herring Prospectus does not constitute an offer to sell or an invitation to subscribe to the securities
offered in any jurisdiction to any person to whom it is unlawful to make an offer or invitation in such jurisdiction
and is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where (a)
distribution or use of such information would be contrary to law or regulation; or (b) the Company or any of its
affiliates would by virtue of such distribution become subject to new or additional registration, licensing or other
regulatory requirements.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended
(the “U.S. Securities Act”), and may not be offered or sold within the United States, except pursuant to an
exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and
applicable U.S. state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the
United States to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act (“Rule
144A”) and referred to in the Draft Red Herring Prospectus as “U.S. QIBs”, for the avoidance of doubt, the term
U.S. QIBs does not refer to a category of institutional investor defined under applicable Indian regulations and
referred to in the Draft Red Herring Prospectus as “QIBs”) in one or more transactions exempt from the
registration requirements of the U.S. Securities Act; and (ii) outside the United States in “offshore transactions”,
as defined in, and in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the
jurisdiction where those offers and sales are made.
The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction
outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except
in compliance with the applicable laws of such jurisdiction.
Any person into whose possession the Draft Red Herring Prospectus comes is required to inform himself or herself
about and to observe any such restrictions. Neither the Company, Book Running Lead Managers, nor any of its
affiliates is soliciting any action based on the Draft Red Herring Prospectus, and it should not be construed as an
offer to sell or the solicitation of an offer to buy any securities. Potential investors should not rely on the Draft
Red Herring Prospectus for any investment decision.
Any decision on whether to invest in the Equity Shares described in the Draft Red Herring Prospectus may only
be made after a red herring prospectus has been filed with the Registrar of Companies, Gujarat at Ahmedabad and
the SEBI and the Stock Exchanges, and must be made solely on the basis of such red herring prospectus, as there
may be material changes in the red herring prospectus compared to the Draft Red Herring Prospectus. Nothing in
the Draft Red Herring Prospectus constitutes an offer or an invitation by or on behalf of either the Company, Book
Running Lead Managers or any of the members of the syndicate to subscribe for or purchase any of the securities
described therein, invitations to subscribe to or purchase the Equity Shares in the Offer will be made only pursuant
to the red herring prospectus if the recipient is in India or the preliminary offering memorandum for the Offer,
which comprises the red herring prospectus and the preliminary international wrap for the Offer, if the recipient
is outside India. No person outside India is eligible to Bid for Equity Shares in the Offer unless that person has
received the preliminary offering memorandum for the Offer, which shall contain the selling restrictions for the
Offer outside India.
Any potential investor should note that investment in Equity Shares involves a high degree of risk and for details
relating to such risk, please see the section titled “Risk Factors” of the red herring prospectus which will be filed
with the Registrar of Companies, Gujarat at Ahmedabad, and SEBI in the future. The Offer and sale of the Equity
Shares to be offered in the Offer shall be made only pursuant to the red herring prospectus, when available. As
there may be material changes in the red herring prospectus versus the DRHP, potential investors should not rely
on the DRHP filed with SEBI and the Stock Exchanges.
Neither the Company, the Book Running Lead Managers nor any of its affiliates, directors, agents, officers,
representatives, advisers or employees do not accept any liability whatsoever, direct or indirect, and will be not
be responsible or have any responsibility of any kind for any loss or damage that could result from interception
and interpretation by any third parties of any information being made available to you through this website. The
Company, the Book Running Lead Managers nor any of its affiliates cannot and do not guarantee the accuracy,
timeliness or completeness of the information being made available to you in the Draft Red Herring Prospectus
beyond the date of the Draft Red Herring Prospectus. The information contained in the Draft Red Herring
Prospectus may not be updated since its original publication date and may not reflect the latest updates. The
Company, the Book Running Lead Managers nor their affiliates will not be responsible for any loss to any person
or entity caused by any shortcoming, defect or inaccuracy which may have inadvertently or otherwise crept into
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the website. Neither the Company, the Book Running Lead Managers nor any of its affiliates nor their directors,
officers and employees will be liable or have any responsibility of any kind for any loss or damage that you incur
in the event of any failure or disruption of this website, or resulting from the act or omission of any other party
involved in making this website or the data contained therein available to you, or from any other cause relating to
your access to, inability to access, or use of the website or these materials.
Failure to comply with this disclaimer may result in a violation of the applicable laws of India and other
jurisdictions. Any other information contained in, or that can be accessed via our website does not constitute a
part of the Draft Red Herring Prospectus.
If you are not permitted to view the materials on this website or are in any doubt as to whether you are permitted
to view these materials, please exit this webpage.
To access this information, you must confirm by pressing on the button marked "I Confirm" that, at the time of
access you are located and resident in India. If you cannot make this confirmation, you must press the button
marked "I Do Not Confirm".
The documentation contained in these pages is posted solely to comply with Indian legal and regulatory
requirements. Making the information contained herein available in electronic format does not constitute an offer
to sell, the solicitation of an offer to buy, or a recommendation to subscribe or buy or sell securities of the Company
in the United States or in any other jurisdiction, including without limitation, India.