What does INOX Leasing and Finance Limited do?

INOX Leasing and Finance Limited is an NBFC (Non-Banking Financial Company) registered with the RBI, functioning primarily as the Inox Group's internal financing and leasing vehicle. It facilitates inter-group lending, equipment leasing, and capital deployment across the Inox Group's business divisions including industrial gases, chemicals, renewable energy, and entertainment.

Is INOX Leasing and Finance related to other INOX Group companies?

Yes. INOX Leasing and Finance is part of the Inox Group promoted by the Jain family of Vadodara. It is a related entity to Gujarat Fluorochemicals Limited (GFL, listed), INOX Wind Limited (listed), PVR INOX Limited (listed, formerly INOX Leisure), and INOX Clean Energy Limited (unlisted).

Why is the share price of INOX Leasing so high at INR 13,700?

The high per-share price typically indicates that the company has a very small number of shares outstanding, meaning the total market capitalization may not be as high as the per-share price suggests. For closely held group holding companies, shares are not split or subdivided, resulting in high face-value or book-value-driven share prices.

Is INOX Leasing and Finance listed on a stock exchange?

No, INOX Leasing and Finance Limited is an unlisted company registered in Delhi (CIN: U65910DL1995PLC397847). Its shares are not traded on BSE or NSE.

What is the connection between INOX Leasing and the INOX Group's business?

INOX Leasing and Finance serves as a treasury and financing arm of the Inox Group, providing working capital, equipment financing, and inter-group loans to group entities. It also holds investments in other Inox Group companies, functioning as part of the promoter holding structure.

How do I buy INOX Leasing and Finance unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for INOX Leasing and Finance?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell INOX Leasing and Finance shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

INOX Leasing and Finance Unlisted Share Price | Buy INOX Leasing and Finance Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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INOX Leasing and Finance Unlisted Share Price | Buy INOX Leasing and Finance Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

INOX Leasing and Finance Limited is essentially the Inox Group's internal NBFC and holding company — a captive financial vehicle for one of India's most diversified and credible business conglomerates. Its value is intrinsically linked to the Inox Group's portfolio performance. With interests spanning fluorochemicals, renewable energy, cinema, and industrial gases, the underlying group is robust. However, the absence of public disclosures, illiquid unlisted status, and high per-share price make this an insiders-only investment with no practical accessibility for public market investors.

Pros

Part of the well-established Inox Group (Jain family of Vadodara), a diversified Indian conglomerate with interests in industrial gases, chemicals, renewable energy, entertainment, and retail
The Inox Group has a strong track record spanning several decades with multiple listed entities (Gujarat Fluorochemicals Ltd/GFL, INOX Wind, INOX Leisure/PVR-INOX) — providing promoter credibility
As a group NBFC/leasing vehicle, INOX Leasing benefits from inter-group financing synergies, serving as a capital allocation vehicle for the group's diverse investments
Very high share price of INR 13,700 per share suggests a closely held, limited-shares structure with asset-backed intrinsic value
NBFC/leasing companies benefit from India's robust credit growth cycle and the group's expanding portfolio of industrial and renewable energy assets
Low share count at high per-share price implies minimal dilution and concentrated ownership — typical of promoter-owned holding companies

Cons

Extremely limited publicly available financial information; as an unlisted NBFC holding company, minimal disclosure obligations mean near-zero investment transparency
As a group holding/financing entity, INOX Leasing's performance is entirely dependent on the health and capital needs of the broader Inox Group
The NBFC/leasing sector in India has seen periodic stress (post-IL&FS 2018, COVID-19) affecting the financing environment for such entities
Very thin secondary market liquidity — the high per-share price of INR 13,700 at lot size 1 implies an extremely small tradeable float
No known public website or dedicated investor relations infrastructure, reflecting the highly private nature of this company
Registered in Delhi (1995) — may function as a holding shell rather than an operating NBFC with independent loan books

Business Segments

Inter-Group Lending & Loans

Providing loans and advances to Inox Group subsidiary and associate companies for working capital, project finance, and capital expenditure requirements; core NBFC activity.

Equipment Leasing

Leasing of industrial equipment, machinery, and assets to Inox Group entities and potentially third-party lessees; traditional NBFC leasing activity.

Investment Holdings

Holding investments in listed and unlisted Inox Group entities (GFL, INOX Wind, INOX Clean Energy, etc.); dividend income and capital appreciation.

Financial Services / Treasury

Treasury management, cash deployment, and other financial services activities for the Inox Group.

Revenue Model

INOX Leasing and Finance generates revenue primarily through: (a) interest income on loans and advances made to group entities and third-party borrowers; (b) lease rentals from equipment leasing activities; (c) dividend income and capital gains from investments in Inox Group subsidiaries and associates; and (d) fee income from financial services rendered to group entities. As a group financing vehicle, revenue is directly correlated to the growth and capital requirements of the Inox Group.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds12

Growth Plans

Inox Group's aggressive expansion in renewable energy (INOX Clean Energy + INOX Wind) creating inter-group financing opportunities

GFL's fluorochemicals business growth and expansion into EV battery materials

PVR INOX's post-merger expansion providing stable dividend income from the entertainment sector

India's NBFC sector growth as credit demand from industry and infrastructure expands

Industry Tailwinds

Recent Developments

PVR-INOX merger completed

The merger of INOX Leisure Limited (cinema chain) and PVR Limited to form PVR INOX Limited was completed in 2023, creating India's largest multiplex chain. INOX Leasing's holdings in INOX Leisure were converted/transferred as part of the group's restructuring post-merger.

2023

INOX Wind order book and capital requirements

INOX Wind's record order book and capacity expansion created group-level capital requirements; INOX Leasing may have facilitated inter-group financing to support INOX Wind's working capital needs.

2023

RBI NBFC regulatory tightening

RBI implemented scale-based regulation for NBFCs in 2022, requiring all registered NBFCs including group holding companies to comply with enhanced governance, capital, and disclosure requirements.

2022

Comparable Companies

CompanyTypeTickerMkt Cap

Gujarat Fluorochemicals Limited (GFL)ListedFLUOROCHEM~INR 30,000–40,000 Cr

INOX Wind LimitedListedINOXWIND~INR 8,000–10,000 Cr

PVR INOX LimitedListedPVRINOX~INR 15,000 Cr

Bajaj Holdings & Investment LimitedListedBAJAJHLDNG~INR 1,00,000 Cr

Frequently Asked Questions

About INOX Leasing and Finance

INOX Leasing and Finance Limited is a Systemically Important Non-Banking Financial Company (NBFC-SI) registered with the Reserve Bank of India, incorporated on 17 December 1995. A member of the INOX Group (Jain family), the company serves as the financing and investment arm of the broader INOXGFL conglomerate, which includes INOX Air Products (industrial gases), PVR INOX (cinemas), INOX Wind (wind turbines), and INOX Clean Energy. The company extends loans, hire-purchase facilities, and leasing services to industrial and commercial enterprises. It also maintains a diversified investment portfolio in equity shares, bonds, and other financial securities, and is registered with AMFI as a mutual fund distributor. Key directors include D.K. Jain (Chairman), P.K. Jain (Managing Director), and V.K. Jain (Director) — all members of the founding Jain family. Financially, INOX Leasing reported revenue of Rs.5,581 crore for FY2024 (down 11.84% from Rs.6,330 crore in FY2023). PAT fell 37.59% to Rs.352 crore in FY2024, with EBITDA declining 35.86% to Rs.1,017 crore. Despite these declines, the company's scale — Rs.5,581 crore revenue as a leasing/NBFC entity — indicates it manages substantial group-level financing and treasury activities. As the INOXGFL Group's NBFC arm, INOX Leasing plays a critical capital allocation and treasury function for the group's diversified businesses. Its systemically important designation means RBI subjects it to enhanced regulatory scrutiny and capital adequacy requirements. The NBFC sector in India is growing significantly, with total NBFC credit estimated at Rs.35+ lakh crore, making INOX Leasing part of a large and systemically important financial sector.

Key Milestones

1995: INOX Leasing and Finance Limited incorporated in Delhi as the Inox Group's NBFC and leasing vehicle

Common questions about unlisted shares

How do I buy INOX Leasing and Finance unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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