Inox Green Energy IPO Is Likely To Come In 2022, Company Files DHRP With SEBI

Inox Green Energy Services Ltd (IGESL), a subsidiary of Inox Wind, is planning an initial public offering (IPO) to collect up to Rs 740 crore. On February 7, 2022, IGESL filed a draught red herring prospectus with India's Securities and Exchange Board (SEBI).

A fresh issue of equity shares worth up to Rs 370 crore and an offer for sale of equity shares worth up to Rs 370 crore are included in the planned IPO offer.

Earlier, Last year, in December 2021, the Board of IGESL approved fundraising by way of an IPO of its equity shares consisting of a fresh issue of equity shares (fresh issue) and/or an offer for sale of equity shares by certain existing and eligible shareholders of IGESL, subject to receipt of requisite approvals, including shareholder approval, market conditions, and other considerations (together with the fresh issue offer).

Inox Wind had given its consent to participate in the planned offer through an offer for the sale of equity shares on January 18, 2022, as an existing and eligible shareholder of IGESL.