Inox Wind sets IPO price band at Rs. 315-325
The Issue will be open for subscription to public on March 18, 2015 and shall close on March 20, 2015.
Mar 11, 2015 05:03 IST India Infoline News Service

In an official statement to the regulator, GFL, which is a part of $2 billion INOX Group of Companies has said, "With reference to the earlier announcement dated July 05, 2013 in relation to the proposed public Issue of Equity Shares of our subsidiary, Inox Wind Limited ("Issue"), Gujarat Fluorochemicals Ltd has announced that the Company have been informed by Inox Wind Limited that the Red Herring Prospectus dated March 08, 2015 filed by Inox Wind Limited with the Registrar of Companies, Himachal Pradesh, at Chandigarh, has been approved on March 08, 2015.
The company is planning to raise Rs 1,000 crore consisting of approximately Rs 700 crore by way of fresh issue of equity shares, and its promoter Gujarat Fluorochemicals selling Rs 300 crore worth of shares.
The Anchor Investor shall bid on one Working Day prior to the Bid/ Issue Opening Date i.e., Tuesday, March 17, 2015. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Such number of Equity Shares representing 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remaining Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above Issue Price. Further not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price such that subject to availability of Equity Shares, each Retail Individual Bidder shall be Allotted not less than the minimum Bid Lot, and the remaining Equity Shares, if available, shall be allotted to all Retail Individual Bidders on a proportionate basis.
Further, 500,000 Equity Shares shall be reserved for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received at or above the Issue price. All QIBs (other than Anchor Investors) and Non-Institutional Investors must compulsorily and Retail Individual Bidders and Eligible Employees may optionally participate in this Issue through the ASBA process by providing the details of their respective bank accounts in which the corresponding Bid Amounts will be blocked by the SCSBs.