Inox Green Energy Services IPO: Check IPO Details, Date, Price | Espresso

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Inox Green Energy Services Limited to Open on Nov 11. Check IPO Details Issue Date Price

November 10, 2022
Inox Green Energy Services Limited to Open on Nov 11. Check IPO Details Issue Date Price

Inox Green Energy Services Limited is coming out with a fresh public issue to raise Rs. 740 crores from the market.

Below are the details of the Inox Green Energy Services Limited IPO:

  • Issue opens – Nov 11 (Friday)
  • Issue closes – Nov 15 (Tuesday)
  • Issue size – Rs. 740 crores
  • Price band – Rs. 61 to 65 per equity share
  • Bid lot – 230 shares and in multiples thereof

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And here are some details of the company and further details on the Inox Green Energy Services Limited.

Company details:

·         Inox Green Energy Services Limited is one of the major wind power operation and maintenance (“O&M”) service providers within India. They are engaged 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 (“WTGs”) and the common infrastructure facilities on the wind farm which support the evacuation of power from such WTGs.

·    They have stable annual income owing to the long-term O&M contracts that they enter into with their customers. They are a subsidiary of Inox Wind Limited (“IWL”). They enjoy synergistic benefits as a subsidiary of IWL, which is principally engaged in the business of manufacturing WTGs and providing turnkey solutions by supplying WTGs and offering a variety of services including wind resource assessment, site acquisition, infrastructure development, EPC of WTGs, and, through their Company, providing long-term O&M services for wind power projects.

·    Pursuant to an exclusivity agreement between IWL and their Company, they provide exclusive O&M services for all WTGs sold by IWL through the entry of long-term O&M contracts between the WTG purchaser and them for terms which typically range between five to 20 years.

·    As of June 30, 2022, their O&M services portfolio consisted of an aggregate 2,792 MW of wind farm capacity and 1,396 WTGs. This included a total capacity of 1,220 MW for various customers in Mahidad, Rojmal, Sadla, Savarkundla, Rajkot and Dayapar in Gujarat; a total capacity of 632 MW for various customers in Kukru, Nipaniya, Jaora and Lahori in Madhya Pradesh; a total capacity of 560 MW for various customers in Dangri, Rajasthan; and a total capacity of 196 MW for various customers in Vaspet, Bhendewade and South Budh in Maharashtra. Of the 2,792 MW capacity, 1,964 MW was attributable to their contracts for comprehensive O&M services and 828 MW was attributable to their common infrastructure O&M contracts.

Issue Size:

740 crores

Issue break-up:

  • QIB – 75% of the offer – Rs. 555 crores
  • NIB – 15% of the offer – Rs. 111 crores
  • RET – 10% of the offer – Rs. 74 crores

Listing:

BSE and NSE

Registrar:

Link Intime India Private Limited

UPI:

All Retail & NII bidders' (bids up to Rs 5,00,000) applications through brokers are compulsorily in UPI Mode

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