Incorporated in 2012, Inox Green Energy Services Limited is one of the major wind power operation and maintenance ("O&M") service providers within India. The company is engaged in the business of providing long-term O&M services for wind farm projects, specifically for Wind Turbine Generators (WTGs) and common infrastructure facilities on wind farms, which support the evacuation of power from such WTGs.
The company is a subsidiary of Inox Wind Limited ("IWL") and part of the Inox GFL group of companies and has a presence spread across Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerela &Tamil Nadu. Its O&M services portfolio consisted of an aggregate of 2,792 MW of wind farm capacity and 1,396 WTGs.
It has a dedicated onsite O&M team to provide 24*7 operation services for their customers’ wind farms to help ensure that their WTGs are generating the highest yield possible. As of March 31, 2022, the company has a team of 393 employees including managers with extensive experience in the O&M of WTGs and the wind industry generally.
They have an established track record in the wind energy O&M industry of more than nine years due in large part to the synergistic relationship it shares with parent company, IWL. The company's total revenue (from the continuing operations i.e. the O&M business) was Rs 1,721.66 million, Rs 1,722.48 million & Rs 1,653.15 million for Fiscals 2022, 2021, and 2020, respectively.
Facts about the Company
- There are no listed companies in India that are comparable in all aspects of business and services that Inox green energy services provide.
- They have formed long-term O&M contracts with clients, ranging from five to twenty years, providing complete revenue visibility.
- Established track record, favourable national policy support, and visibility for future growth.
- Strong and experienced management team.
Points to note before investing in the IPO
- They are in all of India's wind resource-rich states, supported by a strong and diverse portfolio.
- As the industry receives government support, the company will continue on the growth track.
- They have an established relationship with their suppliers for the parts, components, and tools they require in the provision of O&M services.
Objective of the IPO
The proceeds from the issue will be used for the following:
- To repay or prepay certain borrowings of the company including redemption of Non- Convertible Debentures in full.
- General corporate purposes.
Allotment, Listing & Refund Details
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