Inox Green Energy to launch issue on Nov 11

Inox Green Energy Services, a subsidiary of Inox Wind, will open its initial public offering on November 11 for subscription. The IPO comprises a fresh share issue of ₹370 crore and an offer for sale of up to ₹370 crore. The IPO price band has been fixed at ₹61 to ₹65 per share. Bids can be made for a minimum of 230 shares and in multiples of 230 shares thereafter. The anchor investor bidding will open on November 10, while the issue will close on November 15. The net proceeds of the fresh issue are proposed to be utilised for repayment of certain borrowings availed by the company, including redemption of secured NCDs in full.

Inox Green is one of the major wind power operation and maintenance (O&M) service providers specifically for wind turbine generators

As on June 30, 2022, Inox Green's O&M services portfolio comprised an aggregate of 2,792 MW wind farm capacity and 1,396 WTGs (wind turbine generators). Edelweiss Financial, DAM Capital, Equirus Capital, IDBI Capital, and Systematix Corporate Services are the bankers to the offer.