Inox Leasing and Finance Limited
vs. prev. close ₹18,800
52W High
₹21,750
52W Low
₹18,800
Market cap
₹19,058 Cr
IPO stage
No DRHP filed
CIN
U65910HP1995PLC011680
Price History
52W High
₹21,750
52W Low
₹18,800
About Inox Leasing and Finance Limited
Inox Leasing and Finance Limited is the NBFC holding vehicle at the centre of the Inox Group's chemicals and wind-energy businesses, carrying meaningful stakes in Gujarat Fluorochemicals and Inox Wind. With a Composite Scheme of Arrangement underway to fold ILFL into GFCL and IHIL, it offers unlisted investors a structured, if transitional, route into two of India's established speciality-chemicals and renewable-energy franchises.
Short Version :
Inox Leasing and Finance Limited (ILFL) is an RBI-registered Investment and Credit NBFC that functions as the holding vehicle for the listed Inox Group's chemicals and wind-energy businesses, carrying a 52.61% stake in Gujarat Fluorochemicals Limited and a 27.71% stake in Inox Wind Limited, alongside wholly-owned subsidiary Inox Holdings and Investments Limited. On a consolidated basis, the Group delivered FY26 EPS of Rs413.89 (FY25: Rs379.50, attributable to ILFL's owners), closing BVPS of Rs15,623.15 (FY25: Rs13,477.85, whole-Group basis), and ROE of 6.66% (FY25: 7.13%) on closing Group equity, on consolidated revenue of Rs9,700.21 crore and consolidated profit after tax of Rs1,029.41 crore for FY26.
Why It Trades Where It Does :
ILFL's own standalone operations are minimal — a near-breakeven investment and dividend-income vehicle that recorded a small loss in FY26 — so its value is derived almost entirely from its holdings in Gujarat Fluorochemicals (speciality chemicals, refrigerant gases, PTFE/PTPTFE) and Inox Wind (wind turbine manufacturing and EPC/O&M). However, Non-Controlling Interests hold roughly 62% of consolidated Group equity and 58% of consolidated PAT, so only a minority of the Group's reported scale is actually attributable to ILFL shareholders. Most significantly, ILFL is mid-way through a Composite Scheme of Arrangement that will demerge its Wind Business into IHIL and then amalgamate the residual ILFL into Gujarat Fluorochemicals — once effective, ILFL shares convert into GFCL and IHIL shares and ILFL ceases to exist as an independent entity. Pricing for ILFL in the unlisted market is best understood as a bet on the terms and timing of this conversion rather than a standalone operating story, and a negative standalone CRAR (-0.33%) underscores that ILFL's own balance sheet carries no independent operating cushion.
Top Risk :
ILFL is undergoing a Composite Scheme of Arrangement (Wind Business demerger into IHIL, followed by amalgamation of residual ILFL into Gujarat Fluorochemicals Limited); ILFL is expected to cease to exist as a separate legal entity once this Scheme (regulatory/NCLT approval pending) becomes effective, with shareholders receiving GFCL and IHIL shares on terms set by the Scheme.
ILFL's standalone Capital to Risk-Weighted Assets Ratio (CRAR) was -0.33% as at 31 March 2026, substantially below RBI's minimum regulatory requirement for NBFCs — flagged by the statutory auditor as an Emphasis of Matter.
Non-Controlling Interests hold the majority (~62%) of consolidated Group equity and PAT; ILFL's attributable share of Group value and earnings is materially smaller than headline consolidated figures suggest.
ILFL, together with Put Option Agreement co-providers IHIL and promoters Mr. Devansh Jain and Mr. Vivek Jain, has jointly and severally undertaken to discharge dues on Rs1,500 crore of Compulsorily Convertible Debentures issued by Inox Clean Energy Limited if the Put Option is exercised — a contingent obligation that drove the Section 185/186 loan-and-guarantee limit increase to Rs4,000 crore.
Standalone ILFL has no independent operating revenue base of scale (standalone revenue Rs40.32cr in FY26) and recorded a standalone loss for the year; its reported value depends entirely on its GFCL and Inox Wind holdings being correctly and currently valued.
Top Opportunities :
Direct economic exposure, through ILFL's stakes, to two established operating franchises — Gujarat Fluorochemicals (speciality chemicals, refrigerant gases, PTFE/PTPTFE) and Inox Wind (wind turbine manufacturing, EPC and O&M) — which together drove ~15% YoY consolidated Group revenue growth in FY26 (Rs9,700.21cr vs Rs8,411.27cr).
The pending Composite Scheme of Arrangement, if completed, converts ILFL holdings directly into GFCL and IHIL shares, potentially resolving the holding-company discount currently embedded in ILFL's unlisted pricing and offering a defined path to value realisation.
Consolidated Group PAT grew to Rs1,029.41cr in FY26 from Rs951.82cr in FY25, with revenue, expenses and tax all scaling broadly in line with a growing operating Group.
ILFL is a long-standing NBFC-Investment & Credit Company (31st Annual Report) classified in RBI's Middle Layer, with no RBI penalties or regulatory strictures recorded during FY26.
Disclaimer :
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Company Details
Industry
NBFC & Lending
Founded
1995
Headquarters
New Delhi, India
Min Lot Size
25
Face Value
₹10.00
Shares Outstanding
99,00,050
Regulatory Information
Corporate Identity Number (CIN)
U65910HP1995PLC011680
PAN Number
AAACI1954L
ISIN
INE608E01014
Key Valuation Ratios
Valuation
Market Cap
₹19,057.60 Cr
P/E Ratio
18.51×
P/S Ratio
2.10×
P/B Ratio
1.23×
EV / EBITDA
8.84×
Returns & Per Share
ROE
6.66%
EPS
₹1,039.80
Book Value / Share
₹15,623.15
Solvency
Debt / Equity
—
Interest Coverage
—
Company Fundamentals
As of FY2026 Annual · updated 31 Oct 2026Gross Profit
—
EBITDA
₹2,046.67 Cr
Revenue Growth
13.77%
Profit Margin
11.33%
Performance Trends
5 annual periods · derived from filed statements
Revenue
₹ Cr
Net Profit
₹ Cr · losses in red
Earnings Per Share
₹ per share
Return on Equity
ROE %
Return on Capital Employed
ROCE %
EBITDA Margin
22.52%
Financial Statements
| Line item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Total Income | |||||
| Revenue from operationsDisclosed | 4,540.06₹ Crore | 6,309.14₹ Crore | 5,538.89₹ Crore | 7,988.56₹ Crore | 9,088.77₹ Crore |
| Other incomeDisclosed | 921.19₹ Crore | 198.58₹ Crore | 297.41₹ Crore | 380.22₹ Crore | 562.43₹ Crore |
| Total IncomeDerived | 5,556.08₹ Crore | 6,533.01₹ Crore | 5,878.41₹ Crore | 8,411.27₹ Crore | 9,700.21₹ Crore |
| Expenses | |||||
| Employee benefits expenseDisclosed | 400.92₹ Crore | 411.9₹ Crore | 461.17₹ Crore | 604.8₹ Crore | 697.24₹ Crore |
| Depreciation and amortization expenseDisclosed | 444.7₹ Crore | 342.23₹ Crore | 399.58₹ Crore | 538.04₹ Crore | 572.24₹ Crore |
| Operating expensesDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Other expensesDisclosed | 3,527.8₹ Crore | 4,335.61₹ Crore | 4,102.44₹ Crore | 5,727.04₹ Crore | 6,600.65₹ Crore |
| Total ExpensesDerived | 4,851.61₹ Crore | 5,478.91₹ Crore | 5,303.1₹ Crore | 7,172.27₹ Crore | 8,206.25₹ Crore |
| Profit | |||||
| Exceptional itemsDisclosed | 0₹ Crore | 0₹ Crore | 13.69₹ Crore | -13.46₹ Crore | -19.53₹ Crore |
| Profit before taxDerived | 704.47₹ Crore | 1,054.1₹ Crore | 589₹ Crore | 1,225.54₹ Crore | 1,474.43₹ Crore |
| Tax expenseDisclosed | 46.74₹ Crore | 481.38₹ Crore | 207.52₹ Crore | 273.72₹ Crore | 445.02₹ Crore |
| Profit After TaxDerived | 657.73₹ Crore | 572.72₹ Crore | 381.48₹ Crore | 951.82₹ Crore | 1,029.41₹ Crore |
| Total Income | |||||
| Interest earnedDisclosed | 94.83₹ Crore | 25.29₹ Crore | 42.11₹ Crore | 42.49₹ Crore | 49.01₹ Crore |
| Expenses | |||||
| Interest expendedDisclosed | 478.19₹ Crore | 389.17₹ Crore | 339.91₹ Crore | 302.39₹ Crore | 336.12₹ Crore |
| Total Income | |||||
| Net Interest IncomeDerived | -383.36₹ Crore | -363.88₹ Crore | -297.8₹ Crore | -259.9₹ Crore | -287.11₹ Crore |
Devendra Kumar Jain
Chairman
15 Years
Vivek Kumar Jain
Director
22 Years
Devansh Jain
Director
10 years
31st Annual General Meeting (AGM) of Inox Leasing and Finance Limited
Express buy interest
No commitment — the desk will reach out
Current Price
₹19,250Secure & Verified Transaction
Unlisted shares are illiquid and carry higher market risks. Please read the Risk Disclosure before investing.
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About Inox Leasing and Finance Limited unlisted shares
Indicative · updated dailyInox Leasing and Finance Limited unlisted share price today
Inox Leasing and Finance Limited unlisted share price today is ₹19,250 as of 12 November 2026.
Inox Leasing and Finance Limited — frequently asked questions
- What is the grey market price for Inox Leasing and Finance Limited?
No IPO is currently announced for Inox Leasing and Finance Limited, so no grey market exists; the price above reflects Priveq's own desk valuation.
- Has Inox Leasing and Finance Limited filed for an IPO, and when might it list?
Inox Leasing and Finance Limited has not filed a draft red herring prospectus, so no IPO is currently announced and no listing date has been set.
- How does Inox Leasing and Finance Limited compare to its listed peers?
There is no closely comparable listed company for Inox Leasing and Finance Limited in India today.
- Is Inox Leasing and Finance Limited on the SME or Mainboard IPO track?
Inox Leasing and Finance Limited has not filed a draft red herring prospectus, so no IPO track is set yet.
- What is Inox Leasing and Finance Limited's CIN and registered office?
Inox Leasing and Finance Limited's Corporate Identity Number is U65910HP1995PLC011680, registered at New Delhi, India.
- What is Inox Leasing and Finance Limited's market capitalisation?
Inox Leasing and Finance Limited's market capitalisation is approximately ₹19,058 crore, based on its current unlisted share price.
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Buying, selling and holding unlisted shares
Applies to every company on Priveq- How do I buy Inox Leasing and Finance Limited unlisted shares?
Priveq Investech Private Limited is the named counterparty on every transaction. To buy Inox Leasing and Finance Limited unlisted shares: complete KYC once (PAN, Aadhaar, bank details, and demat account information — SEBI-compliant, typically approved within 24 hours), then submit your order through your Priveq dashboard specifying quantity. Our team confirms price and payment details with you directly. Once payment is confirmed, Inox Leasing and Finance Limited shares are transferred off-market straight to your demat account, with no pooling and no middlemen.
- How do I sell Inox Leasing and Finance Limited unlisted shares?
Submit an Express Sell Interest for Inox Leasing and Finance Limited through your Priveq dashboard, specifying quantity, the same way a buy order is placed. Priveq quotes you a bid price, which may differ from the live Buy price shown to buyers, since unlisted-share pricing works on a bid-ask basis rather than a single quote. Once you accept, you'll need to provide your Client Master List (CML), a cancelled cheque or bank details, and PAN. If you hold shares with CDSL, transfer can also be completed digitally via CDSL Easiest. You transfer Inox Leasing and Finance Limited shares to Priveq first, and payment follows once the transfer is confirmed received, typically the same day, T+1, or occasionally T+2, communicated to you directly. For sizeable transactions worth crores of rupees, an escrow arrangement can be used instead, at the sole consent of both parties.
- What is the minimum investment for Inox Leasing and Finance Limited unlisted shares?
Minimum investment varies by company and is shown as the Min Investment figure on this page. Inox Leasing and Finance Limited's minimum is ₹4,81,250.
- Is there a maximum investment limit?
There's no fixed maximum investment limit for Inox Leasing and Finance Limited unlisted shares. For sizeable transactions worth crores of rupees, an escrow arrangement can be used at the sole consent of both parties, the same mechanism available on the sell side.
- Is buying Inox Leasing and Finance Limited unlisted shares legal in India?
Yes. Buying and selling unlisted shares in India is legal and is subject to relevant SEBI regulations, including the mandatory lock-in period after listing, stamp duty, and depository participant charges on each transaction. Priveq's own KYC process is built to be SEBI-compliant.
- What is the lock-in period for Inox Leasing and Finance Limited unlisted shares?
Inox Leasing and Finance Limited has not filed a DRHP yet, so no listing date or lock-in period applies at this stage. Once an IPO is filed, this answer updates to reflect the applicable SME or Mainboard lock-in.
- What happens if Inox Leasing and Finance Limited's IPO is delayed or withdrawn?
If an IPO is delayed, shares remain unlisted and continue to trade on the desk at Priveq's indicative price, with no lock-in in effect until an actual listing happens. If a company formally withdraws its DRHP, the same applies: shares stay unlisted, with no lock-in period until and unless a fresh IPO process begins.
- How are capital gains on Inox Leasing and Finance Limited unlisted shares taxed?
If you sell unlisted shares, including Inox Leasing and Finance Limited, within 24 months of purchase, the gain is taxed as short-term capital gain at your applicable income tax slab rate. Beyond 24 months, it is taxed as long-term capital gain at 12.5 percent, without indexation benefit, under the rules effective from 23 July 2024. If Inox Leasing and Finance Limited lists and you sell after listing, the applicable tax treatment shifts to listed-security rates, with the holding period still measured from your original unlisted purchase date. This is general information, not tax advice; investors should confirm their specific position with a tax advisor.
- Can NRIs invest in Inox Leasing and Finance Limited unlisted shares?
Yes, on a non-repatriable basis. NRIs can invest using funds from an NRO account; sale proceeds stay within India unless repatriated separately under RBI's own limits. Priveq does not currently support repatriable investment (NRE/FCNR-funded), which would require the investee company to file additional RBI paperwork as foreign direct investment.
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Priveq's desk price reflects several inputs together, not a single formula: the seller's ask price at the time, current demand and supply on the platform for Inox Leasing and Finance Limited specifically, broader sentiment in the unlisted and pre-IPO market, how Inox Leasing and Finance Limited's sector and listed peers are trading, the company's own recent financial performance and IPO-stage developments, and recent transaction history where deals have actually closed.
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