Inox Green Energy Services Shares End At 9% Discount To IPO Price
Inox Green Energy Services shares got listed at Rs 60.5 apiece on the BSE and at Rs 60 on the NSE.
The shares of Inox Green Energy Services Ltd. ended at a discount of 9.08% to the IPO price, while declining 2.31% from its listing price to end at Rs 59.10.
Inox Green Energy Services launched its three-day initial public offering on Nov. 11. The IPO was subscribed 1.55 times on the last day.
The qualified institutional buyer or QIB portion was subscribed 1.05 times, while 47% of the non-institutional investor portion was subscribed. The retail portion was subscribed 4.7 times.
Shares of Inox Green Energy Services listed at Rs 60.50 apiece on the BSE Ltd., a discount of 6.92% to its IPO price of Rs 65 apiece. On the National Stock Exchange of India Ltd., the stock debuted at Rs 60, a 7.69% discount.
The company is one of the major wind power operation and maintenance service providers within India.
It engages in the business of providing long-term O&M services for wind farm projects, specifically the provision of O&M services for wind turbine generators and the common infrastructure facilities on the wind farm, which support the evacuation of power from such wind turbine generators. The long-term contracts ranges between 5 to 25 years.