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Inox Green Energy IPO is a book build issue of ₹740.00 crores. The issue is a combination of fresh issue of 5.69 crore shares aggregating to ₹370.00 crores and offer for sale of 5.69 crore shares aggregating to ₹370.00 crores.
Inox Green Energy IPO bidding started from Nov 11, 2022 and ended on Nov 15, 2022. The allotment for Inox Green Energy IPO was finalized on Nov 18, 2022. The shares got listed on BSE, NSE on Nov 23, 2022.
Inox Green Energy IPO price band is set at ₹65.00 per share . The lot size for an application is 230. The minimum amount of investment required by an retail is ₹14,030 (230 shares). The lot size investment for sNII is 14 lots (3,220 shares), amounting to ₹2,09,300, and for bNII, it is 67 lots (15,410 shares), amounting to ₹10,01,650.
Edelweiss Financial Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Inox Green Energy IPO RHP for detailed Information.
| IPO Date | November 11, 2022 to November 15, 2022 |
| Listing Date | November 23, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹61 to ₹65 per share |
| Issue Price Final | ₹65 per share |
| Lot Size | 230 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 11,38,46,152 shares (aggregating up to ₹740.00 Cr) |
| Fresh Issue | 5,69,23,076 shares (aggregating up to ₹370.00 Cr) |
| Offer for Sale | 5,69,23,076 shares of ₹10 (aggregating up to ₹370.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 23,50,16,258 shares |
| Share Holding Post Issue | 29,19,39,334 shares |
Inox Green Energy IPO offers total 11,38,46,152 shares. Out of which 8,53,84,615 (75.00%) allocated to QIB, 3,41,53,846 (30.00%) allocated to QIB, 1,70,76,922 (15.00%) allocated to NII, 1,13,84,615 (10.00%) allocated to RII and 5,12,30,769 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 8,53,84,615 (75.00%) | NA |
| − Anchor Investor Shares Offered | 5,12,30,769 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 3,41,53,846 (30.00%) | NA |
| NII (HNI) Shares Offered | 1,70,76,922 (15.00%) | NA |
| − bNII > ₹10L | 1,13,84,615 (10.00%) | 3,535 |
| − sNII < ₹10L | 56,92,307 (5.00%) | 1,767 |
| Retail Shares Offered | 1,13,84,615 (10.00%) | 49,498 |
| Total Shares Offered | 11,38,46,152 (100.00%) |
Inox Green Energy IPO raises ₹333.00 crore from anchor investors. Inox Green Energy IPO Anchor bid date is November 10, 2022. Inox Green Energy IPO Anchor Investors list
| Bid Date | November 10, 2022 |
| Shares Offered | 5,12,30,769 |
| Anchor Portion Size (In Cr.) | 333.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 18, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 16, 2023 |
Inox Green Energy IPO opens on November 11, 2022, and closes on November 15, 2022.
| IPO Open Date | Fri, Nov 11, 2022 |
| IPO Close Date | Tue, Nov 15, 2022 |
| Tentative Allotment | Fri, Nov 18, 2022 |
| Initiation of Refunds | Mon, Nov 21, 2022 |
| Credit of Shares to Demat | Tue, Nov 22, 2022 |
| Tentative Listing Date | Wed, Nov 23, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Nov 15, 2022 |
Investors can bid for a minimum of 230 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 230 | ₹14,950 |
| Retail (Max) | 13 | 2,990 | ₹1,94,350 |
| S-HNI (Min) | 14 | 3,220 | ₹2,09,300 |
| S-HNI (Max) | 66 | 15,180 | ₹9,86,700 |
| B-HNI (Min) | 67 | 15,410 | ₹10,01,650 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2012, Inox Green Energy Services Limited is one of the major wind power operation and maintenance ("O&M") service providers within India. The company is a subsidiary of Inox Wind Limited ("IWL"), a company which is listed on the National Stock Exchange of India Limited and BSE Limited, and part of the Inox GFL group of companies.
Inox Green Energy services Limited provides exclusive O&M services for all WTGs sold by IWL through the entry of long-term O&M contracts between the WTG purchaser and ourselves for terms which typically range between five to 20 years.
The company is 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").
As of March 31, 2022, the company has a team of 393 employees including managers with extensive experience in the O&M of WTGs and the wind industry generally.
The company has a presence in Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerela and Tamil Nadu.
The company's total revenue (from the continuing operations i.e. the O&M business) was Rs 1,721.66 million, Rs 1,722.48 million and Rs 1,653.15 million for Fiscals 2022, 2021 and 2020, respectively.
Strengths:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 2339.86 | 172.16 | 1.68 | 96.54 | 1084.92 |
| 31-Mar-21 | 2692.8 | 186.29 | -27.73 | 42.96 | 1411.02 |
| 31-Mar-22 | 2120.65 | 190.23 | -4.95 | 806.63 | 904.17 |
| 30-Jun-22 | 2127.74 | 63.16 | -11.58 | 795 | 909.92 |
| Amount in ₹ Crore | |||||
The market capitalization of Inox Green Energy IPO is ₹1897.61 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | -327 |
The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue:
I. Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Non- Convertible Debentures in full.
II. General corporate purposes.
[Dilip Davda] IGESL enjoys good parentage. It is poised for bright prospects ahead with major spending on renewable energies under “Atmanirbhar Bharat” initiatives. Well, based on its current financials, the issue is priced at a negative P/E. But keeping in mind the future prospects and rising demand for wind energy, well-informed investors may consider parking funds for medium to long-term rewards. Read detail review...
| Listing Date | November 23, 2022 |
| BSE Script Code | 543667 |
| NSE Symbol | INOXGREEN |
| ISIN | INE510W01014 |
| Final Issue Price | ₹65 per share |
| BSE Listing Group | B |
Inox Green Energy Services Ltd.
Survey No. 1837 & 1834
At Moje Jetalpur ABS Towers, Second Floor
Old Padra Road, Vadodara- 390 007
Padra, Gujarat
Phone: +91 120 6149 600
Email: investor@inoxgreen.com
Website: http://www.inoxgreen.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: igesl.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Inox Green Energy IPO is a main-board IPO of 11,38,46,152 equity shares of the face value of ₹10 aggregating up to ₹740.00 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 230.
The IPO opens on November 11, 2022, and closes on November 15, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Inox Green Energy IPO using UPI as a payment gateway. Zerodha customers can apply in Inox Green Energy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Inox Green Energy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Inox Green Energy IPO opens on November 11, 2022 and closes on November 15, 2022.
Inox Green Energy IPO lot size is 230, and the minimum amount required for application is ₹14,950.
You can apply in Inox Green Energy IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Inox Green Energy IPO will be done on Friday, November 18, 2022, and the allotted shares will be credited to your demat account by Tuesday, November 22, 2022. Check the Inox Green Energy IPO allotment status.
The Inox Green Energy IPO listing date is on Wednesday, November 23, 2022.
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