IPO Details
- Open Date 11-Nov-22
- Close Date 15-Nov-22
- Lot Size 230
- IPO Size ₹ 740.00 Cr
- IPO Price Range ₹ 61 to ₹65
- Min Investment ₹ 14030
- Listing Exchange BSE, NSE
- Basis of Allotment 18-Nov-22
- Refunds 21-Nov-22
- Credit to Demat Account 22-Nov-22
- Listing Date 23-Nov-22
Inox Green Energy IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 15-Nov-22 | 1.05x | 0.47x | 4.70x | 1.55x |
| 14-Nov-22 | 0.47x | 0.23x | 2.93x | 0.85x |
| 11-Nov-22 | 0.47x | 0.05x | 1.03x | 0.46x |
IPO Synopsis
Inox Green Energy Services IPO is opening for subscription on 11th November and closes on 15th November.
The proposed offer consists of a fresh issue of equity shares worth up to Rs 370 crore and an offer for sale of up to Rs 370 crore by Inox Green, Inox Wind. Inox Wind owns more than 22 crore shares of Inox Green Energy Services, translating to 93.84% of the entire equity share capital.
The issue will be listed on 23rd November and the shares will be allotted on 18th November. The price band is Rs. 61 – 65 per share and the lot size is fixed at 230 shares.
Inox Wind owns more than 22 crore shares of Inox Green Energy Services, translating to 93.84% of the entire equity share capital.
Edelweiss Financial Service, DAM Capital Advisors, Equirus Capital Private, IDBI Capital Markets & Securities, and Systematix Corporate Services are the book running lead managers to the IPO of Inox Green Energy Services.
Objective of Inox Green Energy IPO
The proceeds from the issue will be used for the following:
1. to repay or prepay certain borrowings of the company and
2. for general corporate purposes
Inox Green Energy IPO Video
About Inox Green Energy
Inox Green Energy is a major wind power operation and maintenance (“O&M”) service provider within India. Our 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
It also enjoys synergistic benefits as a subsidiary of Inox Wind Limited (IWL), which is principally engaged in the business of manufacturing WTGs and providing turnkey solutions by supplying WTGs and offering a variety of services including wind resource assessment, site acquisition, infrastructure development, EPC of WTGs, and, through the company, providing long-term O&M services for wind power projects.
The company’s presence is spread across Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerala and Tamil Nadu.
The below flow chart summarises the general process from the manufacturing of a WTG by, for example, IWL, to the point where the provision of Inox Green Energy’s O&M services commences.
Check out our webstories on INOX Green IPO
Inox Green Energy Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Revenue | 172.2 | 172.2 | 165.3 |
| EBITDA | 100.3 | 77.3 | 95.4 |
| PAT | -5.0 | -27.7 | 1.7 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Total Assets | 2120.6 | 2692.8 | 2339.9 |
| Share Capital | 235.0 | 128.6 | 116.2 |
| Total Borrowings | 904.2 | 1411.0 | 1084.9 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 141.0 | 48.7 | 361.6 |
| Net cash from / (used in) investing activities | -153.4 | -105.2 | -306.5 |
| Net cash flow from / (used in) financing activities | -63.1 | 173.5 | -52.5 |
| Net increase (decrease) in cash and cash equivalents | -75.5 | 117.0 | 2.7 |
Peer Comparison
There are no listed companies in India that are comparable in all aspects of business and services that Inox Green Energy provides.
IPO Key Points
-
Strengths
1. Strong and diverse existing portfolio base.
2. Reliable cash flow supported by long-term O&M contracts with high credit quality counterparties
3. Established supply chain in place
4. Supported and promoted by our parent company, IWL -
Risks
1. Entirely dependent on Inox Wind Limited, the promoter for its business and if they were to choose another service provider for O&M services of their WTGs, business, financial condition and prospects may be adversely affected.
2. Technology failures or advancements could disrupt the operations
3. The demand for the services is primarily dependent on the demand for electricity.
4. Dependent on external suppliers for spares and components.
5. It may be liable for penalties and other liabilities under the O&M contracts in case of any deficiencies in the services provided by it.
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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IPO FAQs
What is the minimum lot size and investment required for the Inox Green Energy IPO?
The Inox Green Energy IPO lot size is 230 shares per lot. A retail-individual investor can apply for up to 13 lots (2990 shares or ₹194,350)
What is the price band of the Inox Green Energy IPO?
The price band of the Inox Green Energy IPO is Rs. 61 – 65 per share
When does the Inox Green Energy issue open and close?
The Inox Green Energy issue opens on 11th November and closes on 15th November.
What is the size of Inox Green Energy IPO issue?
The IPO issue consists of a fresh issue of equity shares worth up to Rs 370 crore and an offer for sale of up to Rs 370 crore.
Who are the promoters/key personnels of Inox Green Energy?
Inox Green Energy is promoted by Inox Wind Limited.
What is the allotment date of Inox Green Energy IPO?
The allotment date of the Inox Green Energy IPO is 18th November
What is the Inox Green Energy IPO listing date?
The listing date for the issue is 23rd November.
Who are the book runners for Inox Green Energy IPO?
Edelweiss Financial Service, DAM Capital Advisors, Equirus Capital Private, IDBI Capital Markets & Securities, and Systematix Corporate Services are the book running lead managers to the issue.
What is the objective of the issue?
The proceeds from the issue will be used in the following manner:
1. to repay or prepay certain borrowings of the company and
2. for general corporate purposes
How to apply for the Inox Green Energy IPO?
To apply for the IPO, follow the steps given below
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and price at which you wish to apply for
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
4. You will receive a mandate notification to block funds in your UPI app
Contact Details of Inox Green Energy IPO
Contact Information
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/
Inox Green Energy IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: igesl.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Inox Green Energy IPO Lead Manager
Edelweiss Financial Services Ltd (Past IPO Performance)
DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd) (Past IPO Performance)
Equirus Capital Private Limited (Past IPO Performance)
IDBI Capital Market Services Limited (Past IPO Performance)
Systematix Corporate Services Limited (Past IPO Performance)