Inox Green Energy Services Ltd files DRHP for Rs. 740 crores IPO

The Board of Directors of Inox Wind Ltd's material subsidiary, Inox Green Energy Services Limited (Earlier known as Inox Wind Infrastructure Services Limited) ("IGESL") had 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 ("Fresh Issue") and/ or an offer for sale of Equity Shares by certain existing and eligible shareholders of IGESL (together with the Fresh Issue, "Offer"). On 18th January 2022, as an existing and eligible shareholder of IGESL, the Company had accorded its approval to participate in the proposed Offer through an offer for sale of Equity Shares.

IGESL has announced that it has filed a draft red herring prospectus with the Securities and Exchange Board of India on 7th February, 2022.

The proposed Offer consists of a Fresh Issue of Equity Shares aggregating upto Rs. 3,700 million and an offer for sale of Equity Shares aggregating upto Rs. 3,700 million by the Company.

Shares of Inox Wind Limited was last trading in BSE at Rs. 135.30 as compared to the previous close of Rs. 128.70. The total number of shares traded during the day was 123066 in over 1900 trades.

The stock hit an intraday high of Rs. 137.85 and intraday low of 129.75. The net turnover during the day was Rs. 16436791.00.

Source : Equity Bulls

Keywords

InoxWind INE066P01011 InoxGreenEnergyServices IPO DRHP FundRaising OfferForSale