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Inox Green Energy files fresh draft papers for Rs.740-Cr IPO

Economic Times  

Inox Green Energy Services, a subsidiary of Inox Wind, has filed fresh preliminary papers with the capital markets regulator Sebi to raise INR 740 crore through an Initial Public Offering (IPO). The IPO comprises fresh issuance of equity shares worth INR 370 crore and an offer-for-sale of equity stocks aggregating to INR 370 crore by promoter Inox Wind. The company may consider a pre-IPO placement, which may reduce the fresh issue size. Proceeds from the fresh issue will be used for payment of debt and for general corporate purposes. Inox Green Energy provides long term Operation and Maintenance (O&M) services for wind farm projects, specifically for Wind Turbine Generators (WTGs) and common infrastructure facilities on the wind farm, which support the evacuation of power from such WTGs.