Inox Green Energy IPO
Inox Green Energy Services has filed the draft red herring prospectus for IPO with the Securities and Exchange Board of India, parent Inox Wind informed the stock exchanges on February 8.
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 said in an exchange filing.
Inox Wind said that the board of its subsidiary on January 18 approved the IPO.
The IPO comes at a time when interest in renewable energy companies is running high due to increased focus on global climate transition.
With the Union Budget 2022 also providing measures for boosting renewable energy sources in India going ahead, interest in this space is expected to remain high in coming years.
India had committed to a net-zero carbon economy by 2070 at the recently concluded COP26 Climate Summit in November.
Shares of Inox Wind ended 6.8 percent higher at Rs 137.5 on the National Stock Exchange on February 7.
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