Inox Green Energy Services will launch IPO on November 11, its price band has been fixed at Rs 61-65 per share

New Delhi: If you are thinking of investing in Initial Public Offering (IPO), then there is good news for you. Once again, the IPO market is getting brighter. Another company’s IPO will be open for subscription this week. The IPO of Inox Green Energy Services (IGESL) is being opened for investment on Friday, November 11. Its price band has been fixed at Rs 61-65. The last date to subscribe to this IPO (Inox Green IPO) is 15 November 2022. The company has set a target of raising Rs 740 crore through this IPO. Under this, the company will issue new shares worth Rs 370 crore.

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Fixed lot size of 230 shares
The company has fixed a lot size of 230 shares for this IPO. The company has reserved 75% of this IPO for qualified institutional buyers. At the same time, 15% shares have been kept in reserve for non-institutional buyers. At the same time, the remaining 10 percent of the shares have been kept reserved for retail investors.

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Established in the year 2012
INOX Green Energy Services Company was established in 2012. It is India’s leading wind energy operator and maintenance (O&M) service provider. Let us inform that Green Energy Services, a subsidiary of Inox Wind, has business in Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerala and Tamil Nadu. Let us tell you that Inox is part of the GFL group of companies. Inox Wind currently holds a 93.84 percent stake in Inox Green Energy Services. Recently, Inox Green Energy Services has sold its entire equity stake in three Special Units (SPVs) to Adani Green Energy, the company of Gautam Adani.

New equity shares worth Rs 370 crore will be issued
The new draft documents were filed by the company on June 17. According to these, new equity shares of Rs 370 crore will be issued in the Rs 740 crore IPO. Also, its promoter Inox Wind will offer sale of shares worth Rs 370 crore. Tarachandani said that Inox Green Energy is currently achieving a growth of 30 to 40 percent annually.