The public issue of Inox Green Energy Services Ltd was subscribed 1.55 times at the end of the bidding deadline on Tuesday.
According to the stock exchange data after the close of application deadline on Tuesday, the initial public offer (IPO), which opened for subscription on November 11, received bids for 10,37,39,890 shares as against 6,67,21,310 shares on offer.
The price band was fixed at ₹61-65 per share. The company had informed on November 10 that it received anchor investment for 5,12,30,769 equity shares subscribed at ₹65 a equity share.
The issue comprises fresh issuance of equity shares worth ₹370 crore and an offer-for-sale (OFS) of equity stocks aggregating to ₹370 crore by the promoter Inox Wind.
The proceeds from the fresh issue will be used for payment of debt and general corporate purposes.
Earlier in February, the company filed the DRHP for a similar-size IPO, but later withdrew in April without disclosing any reason.
In June, the company had filed draft papers for the IPO with the regulator. In September, it received the regulator’s approval.
Inox Green is engaged in Operation and Maintenance services for wind farm projects, specifically for wind turbine generators and common infrastructure facilities on wind farms.