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The initial public offering of Inox Green Energy was subscribed 46 per cent on the first day of subscription on Friday.
The company has fixed the price band for its ₹740-crore initial public offering (IPO) at ₹61-65 a share. The minimum lot size is 230 equity shares and in multiples thereof.
According to data available with the exchanges, the Initial Public Offering received bids for 3.05 crore shares against 6.67 crore shares on offer. The portion for Retail Individual Investors (RIIs) was subscribed 1.03 times, while that for Qualified Institutional Buyers (QIBs) received 47 per cent subscription. The quota for non-institutional investors was subscribed 5 per cent.
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 company has reserved 75 per cent of the offer for qualified institutional buyers, 15 per cent for high networth individuals, and the rest for retail investors.
Marqee investors
On Thursday, the company raised ₹333 crore byalloting 5.12 crore equity shares at ₹65 per share to 27 anchor investors, including Volrado Ventures, Morgan Stanley, Nomura, Authum Investment, Saint Capital Fund, Eriska Investment Fund, Cohesion MK Best Ideas, Coeus Global Opportunities Fund, Citigroup, Dovetail India Fund, AG Dynamic, ICICI Prudential, HDFC Trustee, Aditya Birla Sun Life, Edelweiss, and JM Financial.
The offer will close on November 15.
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