Inox Inexperienced Power Companies, a subsidiary of Inox Wind, has mounted a value band of Rs 61-65 per share for its Rs 740-crore preliminary public providing (IPO).
The preliminary share-sale will open for public subscription on November 11 and conclude on November 15, and the bidding for anchor traders will open on November 10, the corporate stated in a BSE submitting.
As per the draft papers, the IPO includes contemporary issuance of fairness shares price Rs 370 crore and an offer-for-sale of shares aggregating to Rs 370 crore by promoter Inox Wind.
Apart from, the corporate could think about a pre-IPO placement. If such a placement is accomplished, the contemporary challenge dimension will likely be lowered.
Inox Inexperienced Power Companies, which had filed draft IPO papers with Sebi on June 20, obtained the statement letter from the regulator on September 13.
The issuance of an statement letter by Sebi implies its go-ahead to drift an IPO.
Going by the draft papers, proceeds from the contemporary challenge will likely be used for cost of debt and common company functions.
Inox Inexperienced is engaged within the enterprise of offering long-term Operation and Upkeep (O&M) providers for wind farm tasks, particularly for wind turbine turbines and customary infrastructure amenities on wind farms.
In February additionally, the corporate had filed the DRHP with Sebi for its IPO. Nonetheless, the draft supply paperwork had been withdrawn in April with out disclosing any motive.