- Date : 07/11/2022
- Read: 2 mins
Inox Green is a wind power maintenance and operation service provider which will launch its IPO on November 11.
Inox Green Energy Services will launch its IPO worth Rs. 740 crores on November 11. It will announce the offer's price band early next week. November 10 will see the anchor book open for one day, and the offer's last day will be November 15. Inox Green is a wind power maintenance and operation service provider.
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How much money does Inox Green Energy Services want to raise with this IPO?
The company wishes to raise Rs. 740 crores comprising an offer for sale and fresh issue of Rs. 370 crores each. The company would use the fresh issue proceeds for general corporate purposes and repay debt. Inox Green Energy Services has reserved around 75% for qualified institutional buyers, 10% for retail investors, and 15% for high net-worth individuals.
Inox Green Energy Services is Inox Wind's subsidiary. Inox Wind is a wind turbine generator manufacturer. Inox Green Energy Services is also a part of Inox GFL (a group of companies). Inox Wind has a 93.84% stake in the company. Inox Green Energy Services provides maintenance and operation services for Inox Wind's wind turbine generators (WTGs).
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Inox Wind entered into contracts (binding contracts) to supply two MW (megawatt) capacity wind turbine generators with 964 MW aggregate capacity. Its maintenance and operation services comprised 1,396 WTGs and 2,792 MW wind farm capacity as of June this year. The 2,792 MW capacity was divided into 1,964 MW in comprehensive maintenance and operation services and 828 MW in standard infra maintenance and operation contracts. The merchant bankers are Systematix Corporate Services, IDBI Capital Markets & Securities, Equirus Capital, DAM Capital Advisors, and Edelweiss Financial Services. Link Intime India is the registrar.
In 2022 there have been 30 IPOs that have been launched. We will witness seven IPOs opening in November. These IPOs include Archean Chemical Industries, Five Star Business Finance, Bikaji Foods International, Global Health, and Fusion Micro Finance.