Inox Green Collects Rs 333 Cr From Anchor Investors Before IPO
Prior to its initial share-sale, the funds were raised that opened for public subscription on 11 November. The funds collected by the company will be allocated 5.12 crore shares to anchor investors at Rs 65 apiece. The initial public offering (IPO) of Inox Green of worth Rs 740-crore consists of fresh issue and an offer for sale of Rs 370 crore each
The Inox Green Energy Services, has collected Rs 333 crore from anchor investors. It is the subsidiary of Inox Wind.
Prior to its initial share-sale, the funds were raised that opened for public subscription on 11 November. The issue will come to an end on 15 November.
The funds collected by the company will be allocated 5.12 crore shares to anchor investors at Rs 65 apiece. The value of the transaction would total to Rs 333 crore, as per a circular uploaded on the website of Bombay Stock Exchange late night on 10 November.
The anchor investors of the company include Morgan Stanley Asia (Singapore) Pte, Nomura Singapore Ltd, Citigroup Global Markets Mauritius Private Limited, HDFC Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF
The initial public offering (IPO) of Inox Green of worth Rs 740-crore consists of fresh issue and an offer for sale of Rs 370 crore each.
The company has decided a price bracket of Rs 61-65 per share for its IPO. The proceeds from the fresh issue will be utilised for payment of debt and general corporate purposes.
The Inox Green is into providing a long-term Operation and Maintenance (O&M) services for wind farm projects, specifically for wind turbine generators and common infrastructure facilities on wind farms.
The shares of the company will be listed on the Bombay Stock Exchange and National Stock Exchange.