Inox Green Energy board approves proposal to raise Rs 9 billion via IPO

Inox Wind’sarm Inox Green Energy Services Limited’s board has approved a proposal to raise Rs 9 billion through an initial public offer (IPO).

The proposed IPO will comprise fresh issuance of equity shares aggregating up to Rs 5 billion and an offer for sale (OFS) of equity shares by certain shareholders to the tune of Rs 4 billion. The public issue will be subject to market conditions, receipt of applicable approvals and other considerations.