Inox Green IPO subscribed 1.55 times on last day

New Delhi, Nov 15 (PTI) The initial public offering (IPO) of Inox Green Energy Services, a subsidiary of Inox Wind, was subscribed 1.55 times on the last day of the issue on Tuesday.

As per the data available with NSE, the IPO received bids for 10.37 crore shares against an offer of 6.67 crore shares for Rs 740 crore.

The retail institutional investors (RIIs) segment was subscribed 4.70 times while the qualified institutional buyers (QIB) category was subscribed 1.05 times. Whereas the share of non-institutional investors got 47 per cent subscription.

The IPO will involve fresh issue of shares up to Rs 370 crore and an offer for sale (OFS) up to Rs 370 crore.

The price band for the IPO has been fixed at Rs 61-65 per share.

Inox Green Energy Services has raised Rs 333 crore from anchor investors.

The proceeds of the fresh issue will be used to repay debt and meet general business needs.

The shares of the company will be listed on BSE and NSE.