Inox Green Energy IPO Detail
Inox Green Energy IPO open on November 11 and closes on November 15, 2022. According to the DRHP filed by the company with SEBI, they are planning to issue 11,38,46,154 shares of Rs 10 each aggregates up to Rs 740 Crore.
Incorporated in 2012. The company’s business is providing long-term operation and maintenance (O&M) services for wind projects, more specifically, for wind turbine generators (abbreviated as “WTGs”) and the shared infrastructure facilities, like pooling stations and transmission lines, that support power evacuation from such WTGs.
It is a division of Inox Wind Limited and a member of the Inox GFL group of companies, with whom the company has a beneficial relationship.
Inox Green Energy IPO – Noteworthy Highlights
- Stable annual income owing to long-term O&M contracts.
- Company are one of the major wind power operation and maintenance (“O&M”) service providers within India.
- As of March 31, 2022, company O&M services portfolio consisted of an aggregate 2,750 MW of wind farm capacity and 1,375 WTGs.
Objects of the Issue
The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objects:
- Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Non- Convertible Debentures in full.
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | Period ended on 30th June 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Total Assets | 2127.74 | 2120.65 | 2692.80 | 2339.86 |
| Net worth | 795 | 806.63 | 42.96 | 96.54 |
| Revenue from operations | 63.16 | 190.23 | 186.29 | 172.16 |
| Profit After Tax | -11.58 | -4.95 | -27.73 | 1.68 |
| Total Borrowing (As per Restated Balance sheet) | 909.92 | 904.17 | 1411.02 | 1084.92 |
Inox Green Energy IPO – Details
According to the DRHP filed by the company with SEBI, they are planning to issue 11,38,46,154 shares of Rs 10 each, aggregate up to Rs 740 crore through this public issue.
| Issue Type | Book Built Issue IPO |
| IPO Price | Rs 61 to Rs 65 per share |
| Face Value | Rs 10 per share |
| Market Lot | 230 shares |
| Issue Size | 11,38,46,154 shares of Rs 10 (Aggregating up to Rs 740 Crore) |
| Fresh Issue | 5,69,23,077 shares of Rs 10 (Aggregating up to Rs 370 Crore) |
| Offer for Sale | 5,69,23,077 shares of Rs 10 (Aggregating up to Rs 370 Crore) |
| QIB Shares Offered | Not less than 75% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
| Retail Shares Offered | Not more than 10% of the Offer |
| Listing At | BSE, NSE |
| Promoters | Inox Wind Limited |
Important Date – Inox Green Energy Limited IPO
| IPO opens on | Nov 11, 2022 |
| IPO closes on | Nov 15, 2022 |
| Basis of Allotment publication date | Nov 18, 2022 |
| Initiation of Refund | Nov 21, 2022 |
| Credit of shares to Demat Account | Nov 22, 2022 |
| IPO listing | Nov 23, 2022 |
Lot Size – Inox Green Energy IPO
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 230 | Rs 14,950 |
| Retail (Max) | 13 | 2,990 | Rs 1,94,350 |
| S-HNI (Min) | 14 | 3,220 | Rs 2,09,300 |
| B-HNI (Min) | 67 | 15,410 | Rs 10,01,650 |
Promoter Holding – Inox Green Energy Limited IPO
| Pre issue share holding | 93.84% |
| Post issue share holding | 56.04% |
Also read: Uniparts India Limited IPO
SWOT Analysis – Inox Green Energy IPO
STRENGTH
- Strong and diverse existing portfolio base.
- Established track record, favourable national policy support and visibility for future growth.
- Reliable cash flow supported by long-term O&M contracts with high credit quality counterparties.
- Supported and promoted by parent company, IWL.
- Established supply chain.
WEAKNESS
- Company currently entirely depends on Inox Wind Limited (Its promoter) for business.
- There are outstanding legal proceedings involving with Company, Subsidiaries, Directors, Promoter and our Group Companies.
OPPORTUNITY
- Company plan to expand our portfolio to also provide O&M services for WTGs which are not manufactured by IWL.
- New opportunities have emerged in the wind sector in India with SECI coming up with newer kinds of project tenders in the form of hybrid, round-the-clock, and peak power supply projects.
- Wind energy generation is likely to reach 912 GW of the installed capacity by 2022 globally. Wind generation O&M service demand is likely to follow the same trend to reach ₹2,800-3,000 billion by 2022.
THREAT
- Technology failures or advancements could disrupt our operations.
- The sale of services and renewal rate of service contracts may decrease in the future.
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Inox Green Energy Services Limited Survey No. 1837 & 1834 At Moje Jetalpur ABS Towers, Second Floor Old Padra Road, Vadodara – 390 007 Phone: +91 120 6149 600 Email: investor@inoxgreen.com Website: http://www.inoxgreen.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: igesl.ipo@linkintime.co.in Website: https://linkintime.co.in/ |
| IPO Lead Manager(s) | 1. Edelweiss Financial Services Limited 2. DAM Capital Advisors Limited 3. Equirus Capital Private Limited 4. IDBI Capital Markets & Securities Limited 5. Systematix Corporate Services Limited |
FAQ’s
When Inox Green Energy IPO allotment?
November 18, 2022 is the date of IPO allotment.
What is the lot size of IPO?
The lot size of Inox Green Energy IPO is 230 shares.
When Inox Green Energy IPO listed?
On November 23, 2022 the Inox Green Energy IPO listed on NSE and BSE.
