According to media reports, Inox Wind Ltd is planning to raise an Initial Public Offering (IPO) for about Rs. 700 crore and a secondary issue for an additional Rs. 300 crore.
With the return of Accelerated Depreciation (AD), wind energy sector in India has received a major boost. According to new studies of the market, it is expected that the total wind power production in the country would be ~3,000 MW in 2014. Moreover, the study added that projects worth $8 billion has been cleared by the new Modi government, which is a very clear sign that the government is pro-clean energy.
Funds from the listing would be utilised in the blade making facility as well as to boost the nascelle capacity. It is reported that Bank of America Merrill Lynch, Edelweiss, Axis bank are part of the team to raise the IPO.
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