Inox Wind Ltd

Stocks to watch: Zomato, NDTV, Gland Pharma, Biocon, Bandhan Bank, IDFC, Bandhan Bank, Inox Wind, Aditya Sun Life AMC, Klipest and RattanIndia

Stock closes 9 per cent lower at ₹59.10 on Day 1

Issue comprises fresh issue of ₹370 crore and an OFS worth ₹370 crore by Inox Wind

Investors are not getting the flavour of a pure-play O&M business as the company comes with legacy issues

Inox Green Energy raised ₹333 cr from the anchor investors

The ₹740-crore issue to open on November 11 and closes on November 15

Scheduled to be commissioned by January 2024, will be executed on a turnkey basis at Dayapar site in Kutch district

Decision comes after board nod for a bigger ₹900-crore IPO in May 2022

IGESL had filed the DRHP with SEBI on February 7

Buzzing stocks: HCL Tech, Inox Wind, U Gro, Dish TV, Bayer Crop, Dalal Street Investments, PTC India

Impact of Covid pandemic on the business would not be significant, says the company management