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Mumbai, Sept.14 Indowind Energy Ltd, a company which generates wind power and develops, operates and maintains windmill projects for others, made its debut on the BSE at a premium of 23.46 per cent against the issue price of Rs 65 at Rs 80.25. On the NSE, it opened at a premium of 15.38 per cent against the offer price of Rs 65 at Rs 75.

The stock witnessed a high of Rs 124.50 and a low of Rs 55.10 before closing at Rs 114.05 on the BSE, whereas on the NSE it went up to a high of Rs 124 and a low of Rs 58.95 before closing at Rs 117.50.

The total quantity traded on the BSE and the NSE was 4,03,91,092 shares and 4,84,15,594 shares respectively.

Indowind got listed with over 4.77 crore equity shares with an issue price of Rs 65 each. The IPO proceeds will be used for business expansion, including setting up of a 9-mw wind project at Chitradurga in Karnataka at a cost of Rs 49.5 crore. The company has already acquired 125.23 acres for the project.

More Stories on : IPOs | Non-conventional Energy

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