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Inox Green Energy files fresh draft papers with Sebi for IPO: Reports

  • Jun 20, 2022, 03.30 PM
  • DealMoney News Service

Inox Green Energy Services, a subsidiary of Inox Wind , has filed fresh preliminary papers with capital markets regulator SEBI to raise Rs 740 crore through an Initial Public Offering (IPO), according to reports.

The IPO comprises fresh issue of equity shares worth Rs 370 crore and an offer-for-sale of equity stocks aggregating to Rs 370 crore by Inox Wind, according to the Draft Red Herring Prospectus (DRHP).

Reports said that the proceeds from the fresh issue will be used for payment of debt and general corporate purposes.

Inox Green Energy Services Limited is a subsidiary of Inox Wind Limited and is a part of the $3 billion Inox Group which has market leadership positions in various businesses including Industrial Gases, Engineering Plastics, Refrigerants, Chemicals, Carbon Credits, Cryogenic Engineering and Renewable Energy. The Company is engaged in the business of operation and maintenance of the wind turbine generators.