Inox Green Energy IPO will open for subscription from 11 November 2022. the company aims for an issue size of ₹740 Cr through this IPO.
Inox Green Energy Services Limited
The company is engaged in the business of providing long-term O&M services for wind farm projects, specifically the provision of O&M services for wind turbine generators (WTGs). It has a stable annual income owing to long-term O&M contracts. It is a subsidiary of Inox Wind Limited (IWL) and part of the Inox GFL group of companies. Its subsidiaries are engaged in the business of power generation through renewable sources of energy.
The company’s O&M services portfolio consisted of an aggregate of 2,750 MW of wind farm capacity and 1,375 WTGs. This included a total capacity of 1,178 MW for various customers in Mahidad, Rojmal, Sadla, Savarkundla, and Dayapar in Gujarat, a total capacity of 632 MW for various customers in Kukru, Nipaniya, Jaora, and Lahori in Madhya Pradesh, a total capacity of 560 MW for various customers in Dangri, Rajasthan, and a total capacity of 196 MW for various customers in Vaspet, Bhendewade and South Budh in Maharashtra. Of the 2,750 MW capacity, 1,922 MW was attributable to contracts for comprehensive O&M services and 828 MW was attributable to common infrastructure O&M contracts.
Basic details about the company
| Full name | Inox Green Energy Services Limited |
| Sector | Capital Goods |
| Industry | Engineering |
| Company Website | https://www.inoxgreen.com/ |
Major competitive strengths
- Established track record, favorable national policy support, and visibility for future growth.
- Strong and experienced management team.
- Supported and promoted by our parent company, IWL.
- Strong and diverse existing portfolio base.
- Established supply chain in place.
- Reliable cash flow supported by long-term O&M contracts with high credit quality counterparties.
Objects of the Issue
- Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Non- Convertible Debentures in full.
- General corporate purposes.
Dates to remember
| IPO Opening date | 11 November 2022 |
| IPO Closing | 13 November 2022 |
| Basis of Allotment | 18 November 2022 |
| Initiation Refund | 21 November 2022 |
| Credit to Demat Account | 22 November 2022 |
| Listing Date | 23 November 2022 |
Inox Green Energy IPO Details
| IPO Date | Nov 11, 2022 to Nov 15, 2022 |
| Face Value | ₹10 per share |
| Price | ₹61 – ₹65 per share |
| Lot Size | 230 shares |
| Issue Size | [.] shares of ₹10 (aggregating up to ₹740.00 Cr) |
| Fresh Issue | [.] shares of ₹10 (aggregating up to ₹370.00 Cr) |
| Offer for Sale | [.] shares of ₹10 (aggregating up to ₹370.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Reservation Details
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Inox Green Energy Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Revenue | 172.2 | 186.3 | 190.2 |
| Expenses | 169.6 | 199.6 | 194.9 |
| Net income | (5.2) | (153.5) | (92.9) |
| Margin (%) | (3.02) | (82.39) | (48.84) |
Inox Green Energy Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 0.20 | (2.29) | (0.25) |
| PE ratio | – | – | – |
| RONW (%) | 1.74 | (64.54) | (0.61) |
| ROCE (%) | 0.15 | (0.10) | 0.04 |
| EBITDA (%) | 55.39 | 41.48 | 52.70 |
| Debt/Equity | 0.73 | 0.67 | 0.99 |
| NAV | – | – | 34.32 |
Company Promoters
- Inox Wind Limited
Lead Manager(s)
- Edelweiss Financial Services Ltd
- DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd)
- Equirus Capital Private Limited
- IDBI Capital Market Services Limited
- Systematix Corporate Services Limited
Inox Green Energy Offer Registrar
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 22 4918 6200
Email: igesl.ipo@linkintime.co.in
Website: www.linkintime.co.in
Inox Green Energy Contact Details
INOX GREEN ENERGY SERVICES LIMITED
Survey No. 1837 & 1834 At Moje Jetalpur
ABS Towers, Second Floor
Old Padra Road, Vadodara- 390 007
Gujarat, India
Phone: +91 265 6198 111
Email: investor@inoxgreen.com
Website: www.inoxgreen.com
Inox Green Energy IPO Allotment Status
Inox Green Energy IPO allotment will be available on Link Intime’s website.
Click on this link to get allotment status.
Final thoughts
Inox Green Energy IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
