Inox Green Energy Services Limited, a subsidiary of Inox Wind Limited, has filed fresh preliminary papers with Securities and Exchange Board of India (SEBI) to raise Rs 7.40 billion through an initial public offering (IPO).
According to the draft red herring prospectus (DRHP) filed by the company, the IPO comprises fresh issuance of equity shares worth Rs 3.70 billion and an offer-for-sale of equity stocks aggregating to Rs 3.70 billion by promoter Inox Wind. Besides, the company may consider a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced. The proceeds from the issue will be used for payment of debt and general corporate purposes.