Inox Green Energy Services debuts at 7% discount to issue price

23 Nov 2022 , 10:11 AM

Inox Green Energy Services on Wednesday made a discounted debut on the stock exchanges. The stock listed at discount of 7.69% to its issue price of Rs65 per share. The stock started its trading at Rs60 on the NSE and Rs60.50 per share on the BSE.

At around 10:12 AM, on the BSE, the shares of Inox Green were trading at Rs62.30 per share lower by 4.15% to its issue price.

The price band of the offering was fixed in the range of Rs61 per equity share to Rs 65 per equity share.

The IPO of Inox Green Energy received 1.55 times subscription of which the qualified institutional buyers (QIBs) section was subscribed 1.05 times, while those of non-institutional investors was subscribed 0.47 times and retail individual investors (RIIs) was subscribed 4.70 times.

Inox Green Energy provides long-term O&M services for wind farm projects. The Inox GFL Group includes companies like Gujarat Fluorochemicals and Inox Wind. The company’s operating portfolio of operations and maintenance contracts is worth 2,750 megawatts.

A major provider of wind power operation and maintenance services, Inox Green Energy Services had raised Rs333 crore from 27 anchor investors at Rs65 per share for the IPO.

For feedback and suggestions, write to us at [e-mail]