Inox Green Energy Services, a subsidiary of Inox Wind, will launch its initial public offering (IPO) this week on Friday, November 11, 2022, and the three-day long offering will conclude on Tuesday, November 15, 2022. The company has decided that a price band of from 61 65 per share for its initial share sale. Anchor investors’ bids will open on November 10, 2022.
According to market observers, INOX is leading the premium (GMP) of Green Energy’s share 11 in the gray market today, from above 7 tomorrow. The shares of the company are expected to be listed on the stock exchanges BSE and NSE on Wednesday, November 23, 2022. The finalization of the share allotment basis for the INOX Green Energy IPO is expected on November 18, 2022.
740 crore IPO A new issuance of equity shares of INOX Green Energy will involve 370 crore and Offer for Sale of Equity Shares (OFS) in total 370 crores by promoter Inox Wind. The company plans to utilize the net proceeds from the fresh issue which will be used by the company for debt repayment and general corporate purposes.
Inox Green Energy Services is engaged in the business of providing Long Term Operation and Maintenance (O&M) services for wind farm projects, in particular Wind Turbine Generators (WTGs) and common infrastructure facilities on wind farms , which supports the withdrawal of power in this way. wtg.
The company has presence in states like Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerala and Tamil Nadu.
Edelweiss Financial Services, DAM Capital Advisors, Equirus Capital, IDBI Capital Markets & Securities, and Systematics are the merchant bankers to the corporate services offering, while LINK Intime India is the registrar of the IPO. Investors can place a minimum bid of 230 equity shares and then in multiples thereof.
catch all business News, market news, today’s fresh news events and breaking news Updates on Live Mint. download mint news app To get daily market updates.