Inox Green Energy Services opens today: All you need to know

The public issue of Inox Green Energy Services, a subsidiary of Inox Wind, is set to hit the primary markets today, 11 November. The initial public offering of Inox Green Energy will close on 15 November. The shares of the Inox Green Energy IPO have been priced at Rs 61-65 per equity. Through this public issue, the company aims to raise Rs 740 crore. The IPO consists of a fresh issue of Rs 370 crore and an offer for sale by promoter Inox Wind of shares worth Rs 370 crore. Inox Green Energy will use the proceeds from the fresh issue for debt repayment and general corporate purposes. Details of the Inox Green Energy IPO: Investors can bid for a minimum of 230 shares, and in multiples of 230 later on. Link Intime India is the registrar of the Inox Green Energy IPO. DAM Capital Advisors, Systematix Corporate Services Limited, IDBI Capital Market & Securities Limited, Edelweiss Financial Services Limited and Equirus Capital are the merchant bankers. The share allotment is expected to be finalised on 18 November. The stock of Inox Green Energy is expected to list on the NSE and BSE on 23 November. Qualified Institutional Buyers can bid for 75 percent of the issue. Of the remaining stake in the Inox Green Energy IPO, 10 percent has been reserved for retail investors and 15 percent for non-institutional investors. According to a Mint report, the grey market premium of the stock was Rs 12 on Wednesday, meaning that the shares could list at the exchanges at around Rs 77. This is 18.5 percent higher than its issue price. However, stock market experts advise investors to look at the financials of the company before making any investment-related decisions. Inox Wind Energy details: The company is engaged in providing long-term Operation and Maintenance (O&M) services for Wind Turbine Generators (WTGs) and other common infrastructure facilities on wind farms. It has a presence in states like Tamil Nadu, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Andhra Pradesh, Rajasthan and Gujarat. As of 30 June 2022, Inox Green Energy’s operation and maintenance services portfolio consisted of 2,792 MW of wind farm capacity and 1,396 wind turbine generators. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .