Stocks

Inox Green Energy’s ₹500-cr IPO

Our Bureau | | Updated on: Dec 06, 2021

Inox Green Energy Services Ltd, a subsidiary of Inox Wind Ltd, will raise ₹500 crore through initial public offering. The IPO consists of fresh issue of equities and offer for sale from the existing shareholders, a statement said. Inox Wind shares ended at ₹137.70 on BSE, down by 5.88 per cent from previous close. Inox Wind has reported revenues of ₹231.03 crore for the September 2021 quarter, with a widened net loss of ₹50.60 crore. However, the decision of taking public the green energy services subsidiary comes at a time, when there is a global attention on India market in the renewable energy space.

Published on December 06, 2021

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