Inox Green Energy is a major wind power operation and maintenance (“O&M”) service provider within India. 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”) and the common infrastructure facilities on the wind farm which support the evacuation of power from WTGs.
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 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.
The company’s presence is spread across Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerala and Tamil Nadu.
Inox Green Energy IPO – Details
| IPO Opening Date | 11 November 2022 |
| IPO Closing Date | 15 November 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹740 Cr |
| Fresh Issue | ₹370 Cr |
| Offer For Sale | ₹370 Cr |
| Face Value | ₹10 per equity share |
| IPO Price | ₹61 – ₹65 |
| Market Lot | 230 Shares |
| Min Order | 230 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | LinkInTime India Private Limited |
| QIB Shares Offered | 75% |
| Retail Shares Offered | 10% |
| NII (HNI) Shares Offered | 15% |
Inox Green Energy IPO – Date Schedule
| IPO Open Date | 11 November 2022 |
| IPO Close Date | 15 November 2022 |
| Basis of Allotment Date | 18 November 2022 |
| Initiation of Refunds | 21 November 2022 |
| Credit of Shares to Demat Account | 22 November 2022 |
| IPO Listing Date | 23 November 2022 |
Inox Green Energy IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 230 | 14,950 |
| Retail (Max) | 13 | 2990 | 1,94,350 |
Competitive Strengths
- Strong and diverse existing portfolio base;
- Established track record, favourable national policy support and visibility for future growth;
- Reliable cash flow supported by long-term O&M contracts with high credit quality counterparties;
- Supported and promoted by our parent company, IWL;
- Established supply chain in place; and
- Strong and experienced management team.
Is Inox Green Energy good for Investment?
Inox Green Energy Services Limited is a subsidiary of Inox Wind Limited. The company is engaged in offering major wind power operation and maintenance (“O&M”) services.
It also provides common infrastructure facilities on the wind farm. The company has a presence in over eight states. It is strengthening its capacity every year with innovations and continuous hard work.
In today’s times, it has become critical to analyze and realize the strength of natural resources and use them to benefit all. It not only creates alternative resources but also connects us with nature and helps in harming it less.
Company Promoters
- Inox Wind Limited
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2020 | 172.16 | 169.63 | 1.67 |
| 31 March 2021 | 186.28 | 199.63 | -27.72 |
| 31 March 2022 | 190.23 | 194.93 | -4.95 |
| 30 June 2022 | 63.16 | 78.74 | -11.58 |
Object Of The Issue
- Repayment and/ or pre-payment, in full or part, of certain borrowings availed by our Company including redemption of Non- Convertible Debentures in full; and
- General corporate purposes.
Inox Green Energy IPO Strengths
- Strong and diverse existing portfolio base.
- Reliable cash flow supported by long-term O&M contracts with high credit quality counterparties.
- Established supply chain in place.
- Supported and promoted by our parent company, IWL.
Inox Green Energy IPO Risks
- Entirely dependent on Inox Wind Limited, the promoter for its business and if they were to choose another service provider for O&M services of their WTGs, business, financial condition and prospects may be adversely affected.
- Technology failures or advancements could disrupt the operations.
- The demand for the services is primarily dependent on the demand for electricity.
- Dependent on external suppliers for spares and components.
- It may be liable for penalties and other liabilities under the O&M contracts in case of any deficiencies in the services provided by it.
Inox Green Energy IPO Promoter Holding
| Pre Issue Share Holding | 93.84% |
| Post Issue Share Holding | 56.04% |
Inox Green Energy IPO Prospectus
Company Contact Information
| Inox Green Energy Services Limited Survey No. 1837 & 1834 At Moje Jetalpur ABS Towers, Second Floor Old Padra Road, Vadodara-390 007 Gujarat, India Tel: +91 265 6198 111 E-mail: investor@inoxgreen.com Website: www.inoxgreen.com |
Inox Green Energy IPO Registrar
| Link Intime India Private Limited C 101, 247 Park L.B.S. Marg, Vikhroli (West), Mumbai 400 083, Maharashtra Tel: +91 22 4918 6270 E-mail: inoxgreen.ipo@linkintime.co.in Website: www.linkintime.co.in |
Inox Green Energy IPO Lead Manager(s)
| 1. Edelweiss Financial Services Limited 2. DAM Capital Advisors Limited 3. Equirus Capital Private Limited 4. IDBI Capital Markets & Securities Limited 5. Systematix Corporate Services Limited |
Inox Green Energy IPO FAQs
| What is Inox Green Energy IPO? Inox Green Energy IPO is a main-board IPO. The issue is priced at ₹61 to ₹65 per equity share. The IPO is to be listed on BSE & NSE. |
| When Inox Green Energy IPO will open? The IPO is to open on 03 November 2022 for QIB, NII, and Retail Investors. |
| What is Inox Green Energy IPO Investors Portion? The investors’ portion for QIB-50%, NII-15%, and Retail-35%. |
| How to Apply the Inox Green Energy IPO? You can apply Inox Green Energy IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Inox Green Energy IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Inox Green Energy”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Inox Green Energy IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Inox Green Energy”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Inox Green Energy IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Inox Green Energy”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Inox Green Energy IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Inox Green Energy”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Inox Green Energy IPO Size? Inox Green Energy IPO size is ₹740 Cr. |
| What is Inox Green Energy IPO Price Band? Inox Green Energy IPO Price Band is ₹61 to ₹65. |
| What is Inox Green Energy IPO Minimum and Maximum Lot Size? The minimum bid is 230 Shares with ₹14,950 amount while the maximum bid is 2990 shares with ₹1,94,350. |
| What is the Inox Green Energy IPO Allotment Date? Inox Green Energy IPO allotment date is 18 November 2022. |
| What is the Inox Green Energy IPO Listing Date? Inox Green Energy IPO listing date is 23 November 2022. The IPO is to list on BSE and NSE. |
