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Inox Wind on Tuesday said a panel of its board has approved its participation in the proposed initial public offering of Inox Green Energy Services Ltd (IGESL) through an offer for sale of equity shares worth ₹400 crore.
On December 6, 2021, IGESL board approved fund raising through an IPO comprising a fresh issue of equity shares aggregating up to ₹500 crore and/ or an offer for sale of equity shares by certain existing and eligible shareholders.
The company, as an existing eligible shareholder of IGESL, had to consider and finalise its participation in the proposed offer.
Shares of Inox Wind Energy currently ruling 2.3 per cent lower at ₹123.75 on the BSE.
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