Inox Green Energy Services Ltd., the material subsidy of wind energy provider Inox Wind is planning to raise Rs. 500 crores via a public offering. In an exchange filing, it has stated that its Board of Directors has approved the fundraising through IPO in a meeting held on 6 December 2021.
Go through the following sections to know more about it.
A Close Look into the Matter
The decision to raise funds through a public offering, as fixed in the company’s board meeting, will be subject to various factors. These factors include market conditions, approval of company shareholders, and several other considerations.
The Inox Green IPO will consist of an issue of fresh equity shares that would aggregate to around Rs. 500 crores. In addition, there might be an offer for sale from existing and eligible shareholders.
The company had been trading 2.5% lower on Monday as shares traded at Rs. 142 apiece on the Bombay Stock Exchange. Notably, this stock has provided excellent year-to-date returns of 122%. In addition, it has gone up by around 179% within a year.
More About the Company
Inox Green is the material subsidy of Inox Wind., which is one of the leading, fully-integrated wind energy providers in India. It has two state-of-the-art manufacturing units in Ahmedabad of Gujarat and Una of Himachal Pradesh. The Ahmedabad plant is involved with producing tubular towers and blades, while its Una facility is meant for nacelles and hubs.
It also has an integrated manufacturing unit located at Barwani of Madhya Pradesh. The company is associated with the manufacturing of various key components required for wind energy generation.
Inox Green has not yet filed its DRHP with market regulator SEBI. The company has not disclosed when it is going to file the papers for its public offering either.
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Frequently Asked Questions
- When is the IPO opening date of Inox Green IPO?
The dates of Inox Green IPO are yet to be finalized. Inox Green will publish its IPO timetable after it receives public offering approval from SEBI.
- Who are the lead managers of Inox Green IPO?
Inox Green is yet to appoint lead managers for its upcoming IPO.
- Who are the directors of Inox Green Energy Services Limited?
Shanti Prasad Jain, Mukesh Manglik, Manoj Shambhu Dixit, Vineet Valentine Davis are among the directors of this firm.