Inox Green Energy IPO Details: On November 11, 2022, Inox Green Energy Services Ltd., a subsidiary of Inox Wind Ltd., will launch its initial public offering (IPO). Inox Green Energy Services, which filed draught IPO papers with Sebi on June 20, received the regulator’s observation letter on September 13. On Wednesday, November 23, 2022, the company’s shares are expected to be listed on the stock exchanges BSE and NSE.
Inox Green Energy IPO Details
|IPO Opening Date||Nov 11, 2022|
|IPO Closing Date||Nov 15, 2022|
|Price Band||₹61 to ₹65 per share|
|Lot Size||230 Shares|
|Issue Size (Rs. Cr.)||113,846,154 shares of ₹10 (aggregating up to ₹740.00 Cr)|
|Fresh Issue||56,923,077 shares of ₹10 (aggregating up to ₹370.00 Cr)|
|Offer for Sale||56,923,077 shares of ₹10 (aggregating up to ₹370.00 Cr)|
|Face Value||Rs. 10 per share|
|Issue Type||Book Built Issue IPO|
|Exchange Board||BSE, NSE|
|QIB Shares Offered||Not less than 75% of the Offer|
|Retail Shares Offered||Not more than 10% of the Offer|
|NII (HNI) Shares Offered||Not more than 15% of the Offer|
|Basis of Allotment Date||Nov 18, 2022|
|Initiation of Refunds||Nov 21, 2022|
|Credit of Shares to Demat Account||Nov 22, 2022|
|Inox Green Energy IPO Listing Date||Nov 23, 2022|
Inox Green Energy IPO Date
The initial share sale will begin on November 11, 2022 and end on November 15, 2022 with bidding for anchor investors beginning on November 10, 2022 according to a BSE filing.
Inox Green Energy IPO Issue Size
Inox Green Energy IPO issue size is ₹750 Cr. The IPO includes a fresh issue of 370 crore as well as an offer for sale of up to 370 crore. The IPO would be completed on November 15.
Inox Green Energy IPO Price Band
The Inox Green Energy Limited IPO has set a price range of ₹61 to ₹65 cents per share with a face value of ₹10. The net proceeds of the new issue are intended to be used to repay certain borrowings obtained by the company, including the full redemption of secured NCDs, as well as for general corporate purposes.
Inox Green Energy IPO Lot Size
The lot size for the Inox Green Energy IPO is 230 shares. Individual retail investors can apply for up to 13 lots (2990 shares or ₹194,350).
Inox Green Energy Allotment Date and Listing Date
The tentative timing for the share allocation announcement is Nov 18, 2022. Inox Green Energy IPO listing date is Nov 23, 2022.
About Inox Green Energy Limited IPO
Inox Green Energy Services Limited, founded in 2012, is one of India’s largest wind power operation and maintenance (“O&M”) service providers. The company is a subsidiary of Inox Wind Limited (“IWL”), which is listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited and is a member of the Inox GFL group of companies.
Inox Green Energy Services Limited provides exclusive O&M services for all WTGs sold by IWL by entering into long-term O&M contracts with the WTG purchaser for terms ranging from five to twenty years.
The company is in the business of providing long-term O&M services for wind farm projects, specifically wind turbine generator O&M services (“WTGs”).
As of March 31, 2022, the company employed 393 people, including managers with extensive experience in WTG O&M and the wind industry in general.
Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerela, and Tamil Nadu are among the states where the company has a presence.
For Fiscals 2022, 2021, and 2020, the company’s total revenue (from continuing operations, i.e. the O&M business) was Rs 1,721.66 million, Rs 1,722.48 million, and Rs 1,653.15 million, respectively.
Existing portfolio is strong and diverse. Established track record, favourable national policy support, and future growth visibility Long-term O&M contracts with high credit quality counterparties ensure consistent cash flow. IWL, our parent company, supports and promotes us. A well-established supply chain is in place. A capable and experienced management team.
Promoters of Inox Green Energy IPO
Inox Wind Limited is the company promoter.