This article provides information regarding the Inox Green Energy IPO GMP Today, Review, Share Price, Lot Size, and additional data. Consult the full article for additional information and data.
Inox Green Energy IPO
Today, November 11, 2022, the Inox Green Energy IPO GMP opens, and it stayed open until November 15, 2022. Inox Green Energy Services Limited (IGESL) wants to raise about INR 740 Crore through its Initial Public Offering (IPO).
This includes a new issue of INR 370 crores and a sale-offer of INR 370 crores of INR 10 each. 75% of the share goes to the Qualified Institutional Buyer (QIB), 15% goes to the High Net Worth Individual (HNI), and 10% goes to the retail quota. Inox Green Energy Services Limited (IGESL), also known as Inox Green, is a company in India that runs and maintains wind farms and is also known by that name.
It is a part of the Inox Wind Limited (IWL) company, which is traded on BSE Limited and the National Stock Exchange of India Limited. It is also part of a group of companies called Inox GFL.
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Inox Green Energy IPO GPM Today
Inox Green Energy Services Limited (IGESL) is present in several Indian states, including Rajasthan, Madhya Pradesh, Andhra Pradesh, Tamil Nadu, Gujarat, Maharashtra, Karnataka, and Kerala. The company specializes in long-term operations and maintenance (O&M) services for Wind Turbine Generators (WTGs) and projects linked to wind farms.
The company made a total of INR 1,653.15 million, INR 1,722.48 million, and INR 1,721.66 million from O&M services in fiscal years 2020, 2021, and 2022, respectively.
How Are the Reviews of Inox Green Energy IPO?
The Inox Green Energy IPO (Initial Public Offering) was evaluated by Axis Capital, which is one of India’s top financial firms. They said that IGESL is a subsidiary of IWL, which makes Wind Turbine Generators (WTGs) and offers turnkey solutions by providing WTGs, wind resource assessment, site acquisition, infrastructure development, EPC of WTGs, and long-term O&M services for wind power projects through its subsidiary Inox Green.
|IPO Date||11th November 2022 to 15th November 2022|
|Face Value||INR 10 per Share|
|Price||INR 61 to INR 65 per share|
|Issue Type||Book Built Issue IPO|
|Listing At||BSE and NSE|
|QIB Shares Offered||Should Not less than 75 percent of the Offer|
|NII (HNI) Shares Offered||Should Not more than 15 percent of the Offer|
|Retail Shares Offered||Should Not more than 10 percents of the Offer|
|Company Promoters||Inox Wind Limited is the company promoter|
|Lot Size||230 Shares|
|Issue Size||113,846,154 Shares of INR 10
(up to INR 740.00 Crore)
|Fresh Issue||56,923,077 Shares of INR 10
(up to INR 370.00 Crore)
|Offer for Sale||56,923,077 Shares of INR 10
(up to INR 370.00 Cr)
Also, they said that IGESL has an exclusivity agreement with IWL, which means that the company offers exclusive O&M services for all WTGs sold by IWL through long-term O&M contracts with the WTG buyers.
Most of the time, the length of these contracts is between 5 and 20 years. The exclusivity agreement is important because IWL’s order book is a key indicator of both businesses’ future sales and growth.
The Price of Inox Green Energy Shares
Check out the table below to see the Inox Green Energy Share Price Range for 2022.
|IPO Opening Date||November 11, 2022|
|IPO Closing Date||November 15, 2022|
|IPO Size||Approx INR 740 Crores|
|Fresh Issue||Approx INR 370 Crores|
|IPO Listing on||BSE and NSE|
|Retail Quota||10 percent|
|QIB Quota||75 percent|
|NII Quota||15 percent|
|Offer for Sale||Approx INR 370 Crores|
|Face Value||INR 10 Per Equity Share|
|IPO Price Band||INR 61 to ₹65 Per Share|
The Initial Public Offering (IPO) for Inox Green Energy starts on November 11, 2022. The deal starts at 10 a.m. on November 11, 2022, and ends at 5 p.m. on November 15, 2022. The deadline for bids is November 15, 2022.
Inox Green Energy IPO Lot Size
The IPO lot size for Inox Green Energy is 230 shares, and an individual investor can bid on up to 13 lots, which is a total of 2,990 shares or INR 194,350. On November 18, 2022, the reason for allotment is likely to be made public.
|S-HNI (Minimum)||14||3,220 Shares||INR 209,300|
|B-HNI (Minimum)||67||15,410 Shares||INR 1,001,650|
|Retail (Minimum)||1||230 Shares||INR 14,950|
|Retail (Maximum)||13||2990 Shares||INR 194,350|
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On November 21, 2022, the returns start, and on November 22, 2022, the shares be credited to Demat. The most likely date for filing is November 23, 2022.
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