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Inox Wind-led subsidiary to raise funds via initial public offering, comprises of fresh issue worth Rs500cr

The IPO will comprise of fresh issue of equity shares aggregating up to Rs500cr and/ or an offer of sale of Equity Shares by certain existing and eligible shareholders of the company.

December 06, 2021 1:15 IST | India Infoline News Service
INOX Wind on Monday announced that material subsidiary, Inox Green Energy Services board of directors have approved fundraising through an initial public offering (IPO).

Inox Green Energy Services was earlier known as Inox Wind Infrastructure Services.

Inox Wind stated that the Inox Green Energy Services board "has approved fundraising, subject to receipt of requisite approvals including the approval of the shareholders, market conditions and other considerations, by way of an initial public offer of its Equity Shares."

The IPO will comprise of fresh issue of equity shares aggregating up to Rs500cr and/ or an offer of sale of Equity Shares by certain existing and eligible shareholders of the company.

Inox Wind said, "The Company, as a shareholder, shall consider and finalize its participation in the aforesaid proposed Offer of IGESL and the terms and conditions of such participation and the matters incidental thereto."

At around 1.11 pm, Inox Wind was trading at Rs143.05 per piece down by 2.22% on Sensex.

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Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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