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Inox Green Energy IPO is a book built issue of Rs 740.00 crores. The issue is a combination of fresh issue of 5.69 crore shares aggregating to Rs 370.00 crores and offer for sale of 5.69 crore shares aggregating to Rs 370.00 crores.
Inox Green Energy IPO bidding started from November 11, 2022 and ended on November 15, 2022. The allotment for Inox Green Energy IPO was finalized on Friday, November 18, 2022. The shares got listed on BSE, NSE on November 23, 2022.
Inox Green Energy IPO price band is set at ₹61 to ₹65 per share. The minimum lot size for an application is 230 Shares. The minimum amount of investment required by retail investors is ₹14,950. The minimum lot size investment for sNII is 14 lots (3,220 shares), amounting to ₹209,300, and for bNII, it is 67 lots (15,410 shares), amounting to ₹1,001,650.
Edelweiss Financial Services Ltd, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Equirus Capital Private Limited, Idbi Capital Market Services Limited and Systematix Corporate Services Limited are the book running lead managers of the Inox Green Energy IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Inox Green Energy IPO RHP for detailed information.
| IPO Date | November 11, 2022 to November 15, 2022 |
| Listing Date | November 23, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹61 to ₹65 per share |
| Lot Size | 230 Shares |
| Total Issue Size | 113,846,154 shares (aggregating up to ₹740.00 Cr) |
| Fresh Issue | 56,923,077 shares (aggregating up to ₹370.00 Cr) |
| Offer for Sale | 56,923,077 shares of ₹10 (aggregating up to ₹370.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 235,016,258 |
| Share holding post issue | 291,939,334 |
Inox Green Energy IPO offers 66,721,310 shares. 36,393,442 (54.55%) to QIB, 18,196,721 (27.27%) to NII, 12,131,147 (18.18%) to RII. 52,744 RIIs will receive minimum 230 shares and 1,883 (sNII) and 3,767 (bNII) will receive minimum 3,220 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 36,393,442 (54.55%) | NA |
| NII (HNI) Shares Offered | 18,196,721 (27.27%) | |
| bNII > ₹10L | 12,131,147 (18.18%) | 3,767 |
| sNII < ₹10L | 6,065,574 (9.09%) | 1,883 |
| Retail Shares Offered | 12,131,147 (18.18%) | 52,744 |
| Total Shares Offered | 66,721,310 (100%) |
Inox Green Energy IPO opens on November 11, 2022, and closes on November 15, 2022.
| IPO Open Date | Friday, November 11, 2022 |
| IPO Close Date | Tuesday, November 15, 2022 |
| Basis of Allotment | Friday, November 18, 2022 |
| Initiation of Refunds | Monday, November 21, 2022 |
| Credit of Shares to Demat | Tuesday, November 22, 2022 |
| Listing Date | Wednesday, November 23, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 15, 2022 |
Investors can bid for a minimum of 230 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 230 | ₹14,950 |
| Retail (Max) | 13 | 2990 | ₹194,350 |
| S-HNI (Min) | 14 | 3,220 | ₹209,300 |
| S-HNI (Max) | 66 | 15,180 | ₹986,700 |
| B-HNI (Min) | 67 | 15,410 | ₹1,001,650 |
| Lot Size Calculator | |||
Inox Wind Limited is the company promoter.
| Share Holding Pre Issue | 93.84% |
| Share Holding Post Issue | 56.04% |
Incorporated in 2012, Inox Green Energy Services Limited is one of the major wind power operation and maintenance ("O&M") service providers within India. The company is a subsidiary of Inox Wind Limited ("IWL"), a company which is listed on the National Stock Exchange of India Limited and BSE Limited, and part of the Inox GFL group of companies.
Inox Green Energy services Limited provides exclusive O&M services for all WTGs sold by IWL through the entry of long-term O&M contracts between the WTG purchaser and ourselves for terms which typically range between five to 20 years.
The company is engaged in the business of providing long-term O&M services for wind farm projects, specifically the provision of O&M services for wind turbine generators ("WTGs").
As of March 31, 2022, the company has a team of 393 employees including managers with extensive experience in the O&M of WTGs and the wind industry generally.
The company has a presence in Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerela and Tamil Nadu.
The company's total revenue (from the continuing operations i.e. the O&M business) was Rs 1,721.66 million, Rs 1,722.48 million and Rs 1,653.15 million for Fiscals 2022, 2021 and 2020, respectively.
Strengths:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 2339.86 | 172.16 | 1.68 | 96.54 | 1084.92 |
| 31-Mar-21 | 2692.8 | 186.29 | -27.73 | 42.96 | 1411.02 |
| 31-Mar-22 | 2120.65 | 190.23 | -4.95 | 806.63 | 904.17 |
| 30-Jun-22 | 2127.74 | 63.16 | -11.58 | 795 | 909.92 |
| Amount in ₹ Crore | |||||
The market capitalization of Inox Green Energy IPO is Rs 1897.61 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | -327 |
The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue:
I. Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Non- Convertible Debentures in full.
II. General corporate purposes.
[Dilip Davda] IGESL enjoys good parentage. It is poised for bright prospects ahead with major spending on renewable energies under “Atmanirbhar Bharat” initiatives. Well, based on its current financials, the issue is priced at a negative P/E. But keeping in mind the future prospects and rising demand for wind energy, well-informed investors may consider parking funds for medium to long-term rewards. Read detail review...
The Inox Green Energy IPO is subscribed 1.55 times on November 15, 2022 7:00:00 PM. The public issue subscribed 4.70 times in the retail category, 1.05 times in the QIB category, and 0.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.05 |
| NII | 0.47 |
| bNII (bids above ₹10L) | 0.39 |
| sNII (bids below ₹10L) | 0.64 |
| Retail | 4.70 |
| Total | 1.55 |
| Listing Date | November 23, 2022 |
| BSE Script Code | 543667 |
| NSE Symbol | INOXGREEN |
| ISIN | INE510W01014 |
| Final Issue Price | ₹65 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹65.00 |
| ₹60.50 |
| ₹58.50 |
| ₹63.95 |
| ₹59.10 |
| NSE |
|---|
| ₹65.00 |
| ₹60.00 |
| ₹58.35 |
| ₹64.00 |
| ₹59.10 |
Inox Green Energy Services Limited
Survey No. 1837 & 1834
At Moje Jetalpur ABS Towers, Second Floor
Old Padra Road, Vadodara- 390 007
Phone: +91 120 6149 600
Email: investor@inoxgreen.com
Website: http://www.inoxgreen.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: igesl.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Lead Manager Reports
Inox Green Energy IPO is a main-board IPO of 113,846,154 equity shares of the face value of ₹10 aggregating up to ₹740.00 Crores. The issue is priced at ₹61 to ₹65 per share. The minimum order quantity is 230 Shares.
The IPO opens on November 11, 2022, and closes on November 15, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Inox Green Energy IPO using UPI as a payment gateway. Zerodha customers can apply in Inox Green Energy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Inox Green Energy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Inox Green Energy IPO opens on November 11, 2022 and closes on November 15, 2022.
Inox Green Energy IPO lot size is 230 Shares, and the minimum amount required is ₹14,950.
You can apply in Inox Green Energy IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Inox Green Energy IPO will be done on Friday, November 18, 2022, and the allotted shares will be credited to your demat account by Tuesday, November 22, 2022. Check the Inox Green Energy IPO allotment status.
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