Inox Green Energy Services Ltd fixes IPO price band as Rs. 61 to Rs. 65

Inox Wind Limited's material subsidiary, Inox Green Energy Services Limited (earlier known as Inox Wind Infrastructure Services Limited) ("IGESL") announced its proposed public issue of Equity Shares comprising of fresh issue of Equity Shares ("Fresh Issue") and an offer for sale of Equity Shares by the Company (together with the Fresh Issue, "Offer").

The Company, as an existing and eligible shareholder and corporate promoter of IGESL, had accorded its approval to participate in the proposed Offer through an offer for sale of Equity Shares held by the Company in IGESL. 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.

IGESL has filed the Red Herring Prospectus dated 3rd November, 2022 with the Registrar of Companies, Gujarat at Ahmedabad ("Roc) and has been approved by the ROC on 4th November, 2022.

IGESL has fixed the price band for subscription to Equity Shares at Rs. 61 to Rs. 65 per Equity Share. The minimum bid lot size shall be of 230 Equity Shares and bids may be made in multiples of 230 Equity Shares thereafter.

The Offer shall open for subscription to public on Friday, 11th November, 2022 and shall close on Tuesday, 15th November, 2022. Further, the Offer shall open for subscription by anchor investors on Thursday, 10th November, 2022.

Shares of Inox Wind Limited was last trading in BSE at Rs. 150.80 as compared to the previous close of Rs. 149.20. The total number of shares traded during the day was 42632 in over 939 trades.

The stock hit an intraday high of Rs. 151.75 and intraday low of 148.90. The net turnover during the day was Rs. 6397352.00.

Source : Equity Bulls

Keywords

InoxWind INE066P01011 InoxGreenEnergyServices IPO FundRaising Subscription Priceband RHP