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Inox Green Energy's Rs.740-Cr IPO subscribed 1.55 times

MoneyControl  

Wind power operation and maintenance service provider Inox Green Energy Services' public issue offer garnered bids for 10.37 crore shares against the IPO size of 6.67 crore shares, translating to a 1.55 times subscription. Retail investors bought their quota 4.7 times and qualified institutional buyers booked 1.05 times, while the part for non-institutional investors was subscribed 47%. The subsidiary of publicly listed wind turbine generators manufacturer Inox Wind aimed to raise INR 740 crore by issuing more than 11.38 crore shares via public issue. Out of this sum, INR 333 crore has already been raised by the company via anchor book. The public issue comprises a fresh issuance of shares worth INR 370 crore and an offer for sale of INR 370 crore by promoter Inox Wind. The fresh issue proceeds will be mainly used for repaying debts.