Bookbuilding IPO | ₹740 Cr | Listed at BSE, NSE | Fri, Nov 11, 2022 - Tue, Nov 15, 2022
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 per share. The lot size for an application is 230. The minimum amount of investment required by an retail is ₹14,950 (230 shares) (based on upper price). 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 Open
Fri, Nov 11, 2022
IPO Close
Tue, Nov 15, 2022
Issue Price
₹65 per share
Market Cap (Pre-IPO)
₹1,897.61 Cr
| IPO Date | 11 to 15 Nov, 2022 |
| Listed on | Wed, Nov 23, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹61 to ₹65 |
| Issue Price | ₹65 per share |
| Lot Size | 230 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 11,38,46,152 shares (agg. up to ₹740 Cr) |
| Fresh Issue | 5,69,23,076 shares (agg. up to ₹370 Cr) |
| Offer for Sale | 5,69,23,076 shares of ₹10 (agg. up to ₹370 Cr) |
| Share Holding Pre Issue | 23,50,16,258 shares |
| Share Holding Post Issue | 29,19,39,334 shares |
| BSE Script Code / NSE Symbol | 543667 / INOXGREEN |
| ISIN | INE510W01014 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 230 shares and in multiples thereof.
| 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 |
Inox Green Energy IPO raises ₹333.00 crore from anchor investors. Inox Green Energy IPO Anchor bid date is November 10, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Nov 10, 2022 |
| Shares Offered | 5,12,30,769 |
| Anchor Portion (₹ Cr.) | 333.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Dec 18, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Feb 16, 2023 |
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 | 30 Jun 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 2,127.74 | 2,120.65 | 2,692.80 | 2,339.86 |
| Total Income | 63.16 | 190.23 | 186.29 | 172.16 |
| Profit After Tax | -11.58 | -4.95 | -27.73 | 1.68 |
| NET Worth | 795.00 | 806.63 | 42.96 | 96.54 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | |
| Total Borrowing | 909.92 | 904.17 | 1,411.02 | 1,084.92 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Secured NCDs in full; and | 260.00 |
| 2 | General corporate purposes | 78.69 |
| KPI | |
|---|---|
| Debt/Equity | 0.99 |
| RoNW | -0.61 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | -0.25 | |
| P/E (x) | -327 | |
| Promoter Holding | 93.84% | 56.04% |
| Market Cap | ₹1,897.61 Cr. |
The Inox Green Energy IPO is subscribed 1.55 times on November 15, 2022 7:00:00 PM (Day 3). The public issue subscribed 4.7 times in the retail category, 1.05 times in the QIB category, and 0.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.05 | 3,63,93,442 | 3,81,13,530 |
| NII | 0.47 | 1,81,96,721 | 86,20,400 |
| bNII (bids above ₹10L) | 0.39 | 1,21,31,147 | 47,40,990 |
| sNII (bids below ₹10L) | 0.64 | 60,65,574 | 38,79,410 |
| Retail | 4.7 | 1,21,31,147 | 5,70,05,960 |
| Total | 1.55 | 6,67,21,310 | 10,37,39,890 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs (including underwriting commission, brokerage and selling commission) | 30.92 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDPs. | 2.63 |
| 3 | Fees payable to the Registrar to the Offer | 0.00 |
| 4 | Fees payable to the legal counsels for drafting of Offer related documentation and assisting the BRLMs in conducting due diligence | 7.80 |
| 5 | Advertising and marketing expenses for the Offer | 7.97 |
| 6 | Printing and stationery expenses for the Offer | 1.18 |
| 7 | Other expenses: Listing fees, SEBI filing fees, Stock Exchange processing fees, book building software fees and other regulatory expenses | 4.22 |
| 8 | Other advisors to the offer such as Statutory Auditors, for preparing the Restated Consolidated Financial Information, the Proforma Consolidated Financial Information, statement of possible special tax benefits and for furnishing confirmations and certificates for purposes of the Offer, CRISIL Limited for preparing the industry report commissioned by and paid for by our Company, fees payable to the monitoring agency etc | 3.84 |
| 9 | Miscellaneous | 3.97 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹65.00 | ₹65.00 |
| Open | ₹60.50 | ₹60.00 |
| Low | ₹58.50 | ₹58.35 |
| High | ₹63.95 | ₹64.00 |
| Last Trade | ₹59.10 | ₹59.10 |
Lead Manager Reports
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 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 230.
The IPO opens on Fri, Nov 11, 2022, and closes on Tue, Nov 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 Fri, Nov 11, 2022 and closes on Tue, Nov 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 Tue, Nov 22, 2022. Check the Inox Green Energy IPO allotment status.
The Inox Green Energy IPO listing date is on Wed, Nov 23, 2022.
