HomeBUISNESS NEWSInox Green IPO opens today: Should you subscribe? Check issue price and...

Inox Green IPO opens today: Should you subscribe? Check issue price and other key details | Markets News

New Delhi: Inox Green initial public offering (IPO) is opening today (November 11). The Rs 740-crore initial public offering (IPO) of Inox Green comprises a fresh issue and an offer for sale of Rs 370 crore each and it will close on November 15. The company has fixed a price band of Rs 61-65 per share for its IPO. Proceeds from the fresh issue will be used for payment of debt and general corporate purposes.

Inox Green Energy Services is a subsidiary of Inox Wind. The company said that it had collected Rs 333 crore from anchor investors ahead of its public subscription on Friday.  (Also read: DCX Systems shares make market debut, list at nearly 39% premium)

The company has decided to allocate 5.12 crore shares to anchor investors at Rs 65 apiece aggregating the transaction size to Rs 333 crore, according to a circular uploaded on the BSE website late night on Thursday. Morgan Stanley Asia (Singapore) Pte, Nomura Singapore Ltd, Citigroup Global Markets Mauritius Private Limited, HDFC Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF are among the anchor investors.

Inox Green is engaged in the business of providing long-term Operation and Maintenance (O&M) services for wind farm projects, specifically for wind turbine generators and common infrastructure facilities on wind farms. Shares of the company will be listed on the BSE and NSE.

With PTI Inputs


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