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All that you should know about the Company before applying for the IPO
The public issue of equity shares of INOX GREEN ENERGY SERVICES LIMITED will open for subscription on November 11, 2022 and closes on November 15, 2022. It is expected to list on the stock exchanges on November 23, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Incorporated in 2012, Inox Green Limited (IGL) is a subsidiary of Inox Wind Limited (IWL), a part of the Inox GFL group of companies, and is one of the major wind power operation and maintenance (“O&M”) service providers in India. 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”) and the common infrastructure facilities on the wind farm which support the evacuation of power from such WTGs. They have a stable annual income owing to the long-term O&M contracts that they enter into with customers.
The company enjoys synergistic benefits as a subsidiary of IWL, which is principally engaged in the business of manufacturing WTGs and offering turnkey solutions by supplying WTGs and offering a variety of services including wind resource assessment, site acquisition, infrastructure development, EPC of WTGs, and, through IGL, providing long-term O&M services for wind. Pursuant to an exclusivity agreement between IWL and IGL, they provide exclusive O&M services for all WTGs sold by IWL through the entry of long-term O&M contracts between the WTG purchaser and themselves for terms that typically range between 5 and 20 years.
Their presence is spread across Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerala and Tamil Nadu.
There are no listed peers in India
Given below are the objectives of the Company –
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:
|IPO Size||₹740 Crore|
|Offer Mix||Freash Issue ₹370 Crore + Offer For Sell ₹370 Crore|
|Price Band||₹ 61 - ₹ 65|
|Lot Size||230 Shares (& in multiples thereof)|
|Face Value||₹ 10|
|Application Amount||Min. ₹ 14,950 (1 lot) | Max. ₹ 1,94,350 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||Link Intime India Private Limited|
|Cut-off time for UPI Mandate Confirmation||15-November-2022 (up to 05:00 PM)|
₹ 555 Crore
(75% of the Issue Size)
₹ 111 Crore
(15% of the Issue Size)
₹ 74 Crore
(10% of the Issue Size)
|IPO Opens||November 11, 2022|
|IPO Closes||November 15, 2022|
|Finalization of the basis of allotment||November 18, 2022|
|Unblocking of funds / Initiation of refunds||November 21, 2022|
|Credit of equity shares to Demat accounts||November 22, 2022|
|Listing of equity shares||November 23, 2022|
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