Inox Green Energy plans to launch IPO by October 2022

Inox Green Energy Services Limited, a subsidiary of Inox Wind Limited, is planning to come out with its initial public offering (IPO) by October 2022 to raise Rs 7.40 billion to fund its expansion plans.

According to the latest draft red herring prospectus (DRHP), the IPO will comprise of 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. The company will focus on the Indian market initially and plans to tap the overseas market after establishing itself in this country. This is Inox Green Energy Services’ second attempt to go public. In February 2022, the company had filed the DRHP for its proposed IPO with Securities and Exchange Board of India. However, the draft offer documents for the IPO were withdrawn in April 2022.

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