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Inox Green Energy IPO subscribed 1.6 times on final day of bidding

Inox Green Energy IPO subscribed 1.6 times on final day of bidding

Inox Green Energy IPO subscribed 1.6 times on final day of bidding
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By Sandeep Singh  Nov 15, 2022 5:16:53 PM IST (Updated)

The IPO of Inox Green Energy Services was fully subscribed on the third and final day of the bidding process.

Inox Green Energy Services' IPO, to raise up to Rs 740 crore, concluded on Tuesday with an overall subscription of 1.6 times. As of 5 pm, the IPO of Inox Green Energy received bids for 10.4 crore shares as against the 6.7 crore shares on offer. The initial share sale was a mix of fresh issuance and an offer for sale (OFS) worth Rs 370 crore each. The IPO had opened for subscription on November 11.

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The stock is likely to be listed on bourses -- BSE and NSE -- on November 23.
 
Inox Green Energy Services,  part of the Inox GFL Group, is a subsidiary of Inox Wind.
A major provider of wind power operation and maintenance services, Inox Green Energy Services had raised Rs 333 crore from 27 anchor investors at Rs 65 per share ahead of the IPO.
This is the second time Inox Green Energy Services has attempted to go public.
The Inox GFL Group includes Gujarat Fluorochemicals, engaged in the manufacturing of specialty chemicals, and Inox Wind, a manufacturer of wind turbine generators and a provider of turnkey solutions.
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