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Inox Green Energy IPO: Inox Green Energy Services, a subsidiary of Inox Wind, is going to come out with its IPO soon. The company has got approval from the stock market regulator SEBI to bring IPO. Inox Green Energy Services is going to raise Rs 740 crore through IPO.
It is believed that Inox Green Energy Services may bring an IPO in October. According to the IPO documents, the company will issue fresh shares worth Rs 370 crore under the IPO. Also, there is a plan to sell shares worth Rs 370 crore by promoter Inox Wind through offer for sale. Inox Green Energy Services CEO Kailash Lal Tarachandani also said that the IPO can be launched within 30 to 45 days.
According to the information provided by SEBI, Inox Green Energy has got the green signal from SEBI to bring the IPO on September 13. The company had submitted the IPO documents before SEBI on June 20, 2022.
Earlier in February, the company had filed documents for its proposed IPO with SEBI. However, the company withdrew the draft documents at the end of April without assigning any reason. Later, the company again filed a draft paper with SEBI to bring the IPO in June.
The CEO said that Inox Green Energy Services is showing a growth rate of 30 to 40 percent annually. At present, the volume of the company is Rs 160 crore, which will increase to Rs 400 to 500 crore in 3 to 4 years.
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