List shares of Inox Green Energy today

Shares of Inox Green Energy Services Ltd will be listed on the stock exchange today. The company has set its IPO price at $65, at the upper end of the $61-65 IPO price range.

The IPO of Rs 740 crore was oversubscribed 1.55 times. The issue involved a new issue of equity shares of Rs 370 crore and an offer for sale (OFS) of equity shares raised to Rs 370 crore by promoter Inox Wind.

The proceeds from the new issue will be used to pay off debts and general corporate purposes.

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The company has raised ₹333 crore from anchor investors by allocating ₹5,12 crore shares at ₹65 per share. Among them were Volrado Ventures, Morgan Stanley, Nomura, Authum Investment, Saint Capital Fund, Eriska Investment Fund, Cohesion MK Best Ideas, Coeus Global Opportunities Fund, Citigroup, Dovetail India Fund, AG Dynamic, ICICI Prudential, HDFC Trustee and Aditya Birla Sun. Life, Edelweiss, and JM Financial.

Withdrawal subscription

Earlier in February, the company had filed for an IPO of a similar size with DRHP, but later pulled out in April without disclosing any reason.

In June, the company submitted draft papers for an IPO to the regulator. In September, I got the approval of the organizer.

Inox Green is engaged in operation and maintenance services for wind farm projects, specifically for wind turbine generators and infrastructure facilities involved in wind farms.