Inox Green Energy Services Limited IPO Detail

Inox Green Energy Services Limited IPO Detail

Company Profile
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.
 Business Information

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:
  1.   To repay or prepay certain borrowings of the company including redemption of Non- Convertible           Debentures in full.
  2.   General corporate purposes.

Opening Date
Nov 11, 2022 
Closing Date
Nov 15, 2022
Issue type
Book Built Issue IPO
Face Value
₹10 per share
Issue Price
₹61 to ₹65 per share
Lot Size
IPO Price
₹740.00 Cr
Listing At

Allotment, Listing & Refund Details

Finalization of Basis of Allotment
Nov 18, 2022
Initiation of Refunds
Nov 21, 2022
Credit of Equity Shares
Nov 22, 2022
Listing Date
Nov 23, 2022

To apply from 5paisa Website:  Apply IPO

To apply from 5paisa Mobile App:  Apply IPO

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