Explorer

Inox Green Energy Board Approves Proposal To Raise Rs 900 Crore Via IPO

The proposed IPO will comprise fresh issuance of equity shares aggregating up to Rs 500 crore and an offer for sale of equity shares by certain shareholders to the tune of Rs 400 crore

New Delhi: Inox wind arm Inox Green Energy Services' board on Monday approved a proposal to raise Rs 900 crore through an initial public offer (IPO).

The proposed IPO will comprise fresh issuance of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) of equity shares by certain shareholders to the tune of Rs 400 crore, Inox Wind said in a BSE filing.

"Board of Directors of our Company’s material subsidiary, Inox Green Energy Services Ltd (Earlier known as Inox Wind Infrastructure Services Ltd) (IGESL) in their meeting held today i.e. May 9, 2022, has accorded a fresh approval to the fundraising... by way of an initial public offer," it added.

Inox Wind informed that the Board of Directors also accorded its approval to participate in the proposed offer for the sale of equity shares aggregating up to Rs 400 crore.

The public issue will be subject to market conditions, receipt of applicable approvals and other considerations.

On April 20, Inox Wind announced that its arm Inox Green Energy Services (IGESL) has decided to withdraw its proposed Rs 740 crore initial share sale offer.

The IPO was slated to issue fresh shares worth Rs 370 crore, besides an offer for the sale of equity shares aggregating to Rs 370 crore by Inox Wind.

The company had filed the Draft Red Herring Prospectus (DRHP) for the proposed IPO on February 7 with the Securities and Exchange Board of India (Sebi).

However, the draft IPO documents for the IPO were withdrawn on April 28, and the reasons for the withdrawal were not disclosed. 

ALSO READ | LIC IPO: Foreign Institutional Investors Shun Mega Subscription Amid Market Volatility

View More
Advertisement

IPL Auction 2025

Most Expensive Players In The Squad
Virat Kohli
₹21 CR
Josh Hazlewood
₹12.50 CR
Phil Salt
₹11.50 CR
View all
Most Expensive Players In The Squad
Rishabh Pant
₹27 CR
Nicholas Pooran
₹21 CR
Ravi Bishnoi
₹11 CR
View all
Most Expensive Players In The Squad
Jasprit Bumrah
₹18 CR
Suryakumar Yadav
₹16.35 CR
Hardik Pandya
₹16.35 CR
View all
Most Expensive Players In The Squad
Heinrich Klaasen
₹23 CR
Pat Cummins
₹18 CR
Abhishek Sharma
₹14 CR
View all
Most Expensive Players In The Squad
Ruturaj Gaikwad
₹18 CR
Ravindra Jadeja
₹18 CR
Matheesha Pathirana
₹13 CR
View all
Most Expensive Players In The Squad
Shreyas Iyer
₹26.75 CR
Arshdeep Singh
₹18 CR
Yuzvendra Chahal
₹18 CR
View all
Most Expensive Players In The Squad
Sanju Samson
₹18 CR
Yashaswi Jaiswal
₹18 CR
Riyan Parag
₹14 CR
View all
Most Expensive Players In The Squad
Venkatesh Iyer
₹23.75 CR
Rinku Singh
₹13 CR
Varun Chakaravarthy
₹12 CR
View all
Most Expensive Players In The Squad
Rashid Khan
₹18 CR
Shubman Gill
₹16.50 CR
Jos Buttler
₹15.75 CR
View all
Most Expensive Players In The Squad
Axar Patel
₹16.50 CR
KL Rahul
₹14 CR
Kuldeep Yadav
₹13.25 CR
View all
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Rajasthan 'Maharaja' & BJP MLA Clash Over 'Right' To Royal Throne Of Udaipur; Stone-Pelting Outside Palace
Rajasthan 'Maharaja' & BJP MLA Clash Over 'Right' To Royal Throne Of Udaipur; Stone-Pelting Outside Palace
Man Of The Moment Devendra Fadnavis in Delhi Amid Suspense Over CM's Name, Not For Meeting But Wedding
Man Of The Moment Devendra Fadnavis in Delhi Amid Suspense Over CM's Name, Not For Meeting But Wedding
As Race For Maharashtra CM Post Heats Up, Eknath Shinde Upset Over BJP's 'Claim' For Top Post: Sources
As Race For Maharashtra CM Post Heats Up, Eknath Shinde Upset Over BJP's 'Claim' For Top Post: Sources
Schools In Delhi-NCR To Go In Hybrid Mode After Supreme Court Directive On Air Pollution
Schools In Delhi-NCR To Go In Hybrid Mode After Supreme Court Directive On Air Pollution
Advertisement
ABP Premium

Videos

FIR Filed Against Sambhal MP Ziaur Rahman, Statement Released Amidst ControversyFIR Filed Against Sambhal MP Ziaur Rahman and Local MLA's Son in Controversial CaseSambhal Violence Sparks Political Firestorm, Congress MP Imran Masood's Strong Remarks | ABP NewsBreaking News: SP Leader Ram Gopal Yadav Reacts to Sambhal Violence | ABP News

Photo Gallery

Embed widget