Inox Green Energy IPO GMP: How Are the Reviews of This? Shares and Lot Size!

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 IPO GMP: How Are the Reviews of This? Shares and Lot Size!

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
Listing Date [.]
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
Discount N/A

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.

Application Lots Shares Amount
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

Must Check:

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.

Inox Green Energy IPO GMP: How Are the Reviews of This? Shares and Lot Size!

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