Inox Wind to sell Rs. 400 crore worth of Inox Green Energy Services Ltd shares in IPO

The Board of Directors of Inox Wind's material subsidiary, Inox Green Energy Services Limited (Earlier known as Inox Wind Infrastructure Services Limited) ("IGESL") in their meeting held on 6 December, 2021 have approved fund raising, subject to receipt of requisite approvals including approval of the shareholders, market conditions and other considerations, by way of an initial public offer of its Equity Shares comprising of fresh issue of Equity Shares aggregating upto Rs. 500 Crore ("Fresh Issue") and / or an offer for sale of Equity Shares by certain existing and eligible shareholders of the company (together with the Fresh Issue, "Offer"); and the Company, as an existing eligible shareholder shall consider and finalize its participation in the aforesaid proposed Offer.

The IWL Committee of the Board of Directors for Operations of the Company in their meeting held today i.e. 18 January, 2022 have accorded its approval to participate in the proposed Offer through an offer for sale of Equity Shares aggregating upto an amount of Rs. 400 Crore.

The Offer will be subject to market conditions, receipt of applicable approvals and other considerations.

Shares of Inox Wind Limited was last trading in BSE at Rs. 126.65 as compared to the previous close of Rs. 128.85. The total number of shares traded during the day was 100955 in over 1727 trades.

The stock hit an intraday high of Rs. 130.90 and intraday low of 125.95. The net turnover during the day was Rs. 12964870.00.

Source : Equity Bulls

Keywords

InoxWind INE066P01011 OfferforSale InoxGreenEnergyServices IPO