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.
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.
According to market observers, INOX is leading the premium (GMP) of Green Energy’s share Today in Gray Market 7. The Company’s shares are expected to be listed on the stock exchanges BSE and NSE on Wednesday, November 23, 2022.
The company had said that the net proceeds from the new issue would 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 are such Supports power outage from WTG. The company has presence in 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 offer.
Inox Green Energy Services, which had filed the draft IPO document with SEBI on June 20, received an observation letter from the regulator on September 13. Earlier, the company had filed DRHP for its proposed IPO with SEBI in February. However, the draft offer documents for the IPO were withdrawn at the end of April without assigning any reason.
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