Inox Green Energy IPO to open on 11th November

7 Nov 2022 , 10:26 AM

Inox Green Energy Services (IGESL) will launch its initial public offering (IPO) on Friday, November 11. The company will sell its shares for between Rs61 and Rs65 per share.

Inox Green Energy Services, which was founded in 2012, is one of India’s top operators and maintainers (O&M) of wind-generating systems.

Through its primary offering, which includes the issuance of new shares with a face value of Rs10 apiece and a total value of Rs370 crore, the company hopes to raise Rs740 crore. Its parent business, Inox Wind, will make an offer to sell shares worth Rs370 crore.

On November 10, the anchor book will debut. Investors can submit bids starting at 230 equity shares and going up from there. On Tuesday, November 15, subscriptions to the issue will be discontinued.

The net proceeds from the offering will be used for general corporate purposes as well as the repayment and/or prepayment of certain borrowings that the firm has taken out, such as the redemption of non-convertible debentures.

In particular, the company offers O&M services for wind turbine generators as part of its long-term O&M services for wind farm projects.

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