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Inox Green Energy IPO Detail

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:

  1. Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Non- Convertible Debentures in full.
  2. General corporate purposes.

Financial Highlights (Restated)

ParticularsPeriod ended on 30th June 2022FY 2021-22FY 2020-21FY 2019-20
Total Assets2127.742120.652692.802339.86              
Net worth795806.6342.9696.54
Revenue from operations63.16190.23186.29172.16
Profit After Tax-11.58-4.95-27.731.68
Total Borrowing (As per Restated Balance sheet)909.92904.171411.021084.92
(Rs in Crore)

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 TypeBook Built Issue IPO
IPO PriceRs 61 to Rs 65 per share
Face ValueRs 10 per share
Market Lot230 shares
Issue Size11,38,46,154 shares of Rs 10 (Aggregating up to Rs 740 Crore)
Fresh Issue5,69,23,077 shares of Rs 10 (Aggregating up to Rs 370 Crore)
Offer for Sale5,69,23,077 shares of Rs 10 (Aggregating up to Rs 370 Crore)
QIB Shares OfferedNot less than 75% of the Offer
NII (HNI) Shares OfferedNot more than 15% of the Offer
Retail Shares OfferedNot more than 10% of the Offer
Listing AtBSE, NSE
PromotersInox Wind Limited

Important Date – Inox Green Energy Limited IPO

IPO opens onNov 11, 2022
IPO closes onNov 15, 2022
Basis of Allotment publication dateNov 18, 2022
Initiation of RefundNov 21, 2022
Credit of shares to Demat AccountNov 22, 2022
IPO listingNov 23, 2022

Lot Size – Inox Green Energy IPO

ApplicationsLotsSharesAmount
Retail (Min)1230Rs 14,950
Retail (Max)132,990Rs 1,94,350
S-HNI (Min)        143,220Rs 2,09,300
B-HNI (Min)        6715,410Rs 10,01,650

Promoter Holding – Inox Green Energy Limited IPO

Pre issue share holding93.84%
Post issue share holding56.04%

Also read: Uniparts India Limited IPO

SWOT Analysis – Inox Green Energy IPO

STRENGTH

  1. Strong and diverse existing portfolio base.
  2. Established track record, favourable national policy support and visibility for future growth.
  3. Reliable cash flow supported by long-term O&M contracts with high credit quality counterparties.
  4. Supported and promoted by parent company, IWL.
  5. Established supply chain.

WEAKNESS

  1. Company currently entirely depends on Inox Wind Limited (Its promoter) for business.
  2. There are outstanding legal proceedings involving with Company, Subsidiaries, Directors, Promoter and our Group Companies.

OPPORTUNITY

  1. Company plan to expand our portfolio to also provide O&M services for WTGs which are not manufactured by IWL.
  2. 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.
  3. 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

  1. Technology failures or advancements could disrupt our operations.
  2. 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 InformationInox 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: [email protected]
Website: http://www.inoxgreen.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
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

November 18, 2022 is the date of IPO allotment.

The lot size of Inox Green Energy IPO is 230 shares.

On November 23, 2022 the Inox Green Energy IPO listed on NSE and BSE.

Click here for more FAQs.

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