Inox Wind, a wind energy service provider, said on Tuesday that its significant subsidiary Inox Green Energy filed a draft red herring prospectus with the market regulator SEBI for an initial public offering on February 7, 2022. The proposed offer includes a new issuance of equity shares worth up to Rs 370 crore and a corporate offer for sale of equity shares worth up to Rs 370 crore.
In December, the company announced that the board of directors of its material subsidiary had approved a fundraiser through an IPO of its equity shares, which included a fresh issue of equity shares and an offer for sale of equity shares by certain existing and eligible shareholders. Inox Wind stated in an exchange statement that as an existing and eligible shareholder of Inox Green Energy Services, the business has given its assent to participate in the planned Offer via an offer for sale of equity shares on January 18, 2022.
Inox Wind shares have returned a multi-bagger of over 107 percent in a year, while the stock has risen 19 percent in 2022 thus far. Inox Wind is a fully integrated participant in the wind energy sector, with state-of-the-art manufacturing sites for blades and tubular towers near Ahmedabad.
About Inox Wind
Inox Wind Limited, founded in April 2009, is India’s top supplier of wind energy solutions. Inox is a company that makes wind turbine generators. Wind resource evaluation, site acquisition, infrastructure development, construction and commissioning, as well as long-term operations and maintenance of wind power plants are all services offered by the company.
In order to ensure high quality, modern technology, and dependability while keeping cost competitiveness, the company manufactures the components of wind turbine generators in-house. The company has production facilities for nacelles, hubs, rotor blade sets, and towers.
Inox Wind earns NTPC Renewable Energy Ltd’s deal
NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC Limited, has placed an order for a 150 MW wind power project in Gujarat, according to the firm. “This, along with a slew of other projects, will help NTPC meet its goal of having over 60 GW of renewable energy capacity by 2032, accounting for about half of the company’s total power producing capacity. The project will be completed on a turnkey basis at the Dayapar location in the Kutch District of Gujarat, and is expected to be operational by April 2023,” according to an official statement.
The business will provide and install DF 113/92 – 2.0 MW Wind Turbine Generators with a rotor diameter of 113 meters and a hub height of 92 meters as part of the deal. Since shared infrastructure facilities have already been authorized, the project will be completed on a plug-and-play basis with a reduced gestation period.
As part of the deal, the firm will be responsible for providing complete operation and maintenance throughout the duration of the project. This will assist enhance the company’s overall profitability by adding to its multi-gigawatt O&M fleet. “We are really thrilled to bag this major project from NTPC,” said Kailash Tarachandani, CEO of Inox Wind. “We are excited to be a long-term and trusted supplier to NTPC, as well as collaborators in attaining NTPC’s ambitious Renewable Energy objective. This is also the biggest order a PSU has received in recent years.”
With the present portfolio and this new award, the O&M company seems to be extremely strong and well-positioned to continue on a solid growth path.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.
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