Inox Green Energy Services IPO Subscribed 46% On Day 1
The IPO was subscribed 0.46 times as of 5 p.m. on Nov. 11
Inox Green Energy Services Ltd., an arm of the Inox GFL Group, involved in the operations and maintenance of wind turbine generators, launched its maiden issue on Nov. 11.
The O&M provider is raising Rs 370 crore via fresh issue, and Rs 370 crore through offer for sale. It is offering around 5.69 crore equity shares at Rs 61-65 apiece in the IPO.
The company is valued at close to Rs 1,900 crore at the upper end of the price band.
Promoters and promoter group will hold 56% of the post-offer issued, and paid-up equity share capital. The company is offering 39% of the post-offer equity capital in IPO.
The company concluded preferential allotment of equity shares worth Rs 58 crore at Rs 80.64 apiece in November-December 2021, in lieu of repayment of debt owed to the promoters on account of receipt of materials/services, etc.
IPO Details
Duration: Nov. 11-15.
Offer for sale: 5.69 crore shares.
Price band: Rs 61-65 per share.
Issue size: Fresh issue of Rs 370 crore; offer for sale of Rs 370 crore.
Face value: Rs 10 apiece.
Lot size: 230 shares and multiples.
Listing on: BSE and NSE.
Lead managers: Edelweiss, DAM Capital, Equirus, IDBI Capital, Systematix Corporate Services.
Subscription Status: Day 1
The IPO was subscribed 0.46 times, or 46%, as of 5 p.m. on Nov. 11.
Institutional investors: 0.47 times
Non-institutional investors: 0.05 times
Retail investors: 1.03 times