Inox Green Energy Services Limited IPO Details

Inox Green Energy Services Limited IPO (Inox Green Energy Services IPO)

Inox Green Energy Services Limited- Company Overview

Inox Green Energy Services Limited, founded in 2012, is one of India's largest wind power operation and maintenance ("O&M") service providers. The company is a subsidiary of Inox Wind Limited ("IWL"), which is listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited and is a member of the Inox GFL group of companies.

Inox Green Energy Services Limited provides exclusive O&M services for all WTGs sold by IWL by entering into long-term O&M contracts with the WTG purchaser for terms ranging from five to twenty years.

Business Overview

The company provides long-term O&M services for wind farm projects, specifically wind turbine generator O&M services ("WTGs").

As of March 31, 2022, the company employed 393 people, including managers with extensive experience in WTG O&M and the wind industry in general.

Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerela, and Tamil Nadu are among the states where the company has a presence.

For Fiscals 2022, 2021, and 2020, the company's total revenue (from continuing operations, i.e., the O&M business) was ₹1,721.66 million, ₹1,722.48 million, and ₹1,653.15 million, respectively.

Inox Green Energy Services Limited - IPO Synopsis

The Inox Green Energy Services IPO opens for subscription on November 11th and closes on November 15th.

The proposed offer consists of a new issue of equity shares worth up to ₹370 crores and an offer for sale by Inox Green and Inox Wind worth up to ₹370 crores. Inox Wind owns over 22 crore shares of Inox Green Energy Services, accounting for 93.84% of the company's total equity share capital.

The issue will be listed on November 23rd, and the shares will be distributed on November 18th. The price range is ₹61-₹65 per share, with a lot size of 230 shares.

Inox Wind owns over 22 crore shares of Inox Green Energy Services, accounting for 93.84% of the company's total equity share capital.

The book-running lead managers for Inox Green Energy Services' IPO are Edelweiss Financial Service, DAM Capital Advisors, Equirus Capital Private, IDBI Capital Markets & Securities, and Systematix Corporate Services.

Inox Green Energy Services Limited - Objectives of the IPO

The Fresh Issue's net proceeds, as opposed to the Fresh Issue's gross proceeds:

1. Full or partial repayment and/or prepayment of certain borrowings obtained by the Company, including full redemption of Non-Convertible Debentures.

2. General corporate objectives.

Inox Green Energy Services Limited - Financial Summary (in crore)

Inox Green Energy Services IPO - Pros

1. A solid and diverse existing portfolio.

2. Consistent cash flow, backed up by long-term O&M contracts with high-credit-quality counterparties

3. A well-established supply chain is in place.

4. IWL, our parent company, supports and promotes us.

Inox Green Energy Services IPO - Cons

1. Its business is entirely dependent on Inox Wind Limited, the promoter. If they choose another service provider for O&M services of their WTGs, their business, financial condition, and prospects may suffer.

2. Failures or advancements in technology may disrupt operations.

3. Service demand is primarily determined by the demand for electricity.

4. Relies on third-party suppliers for spares and components.

5. It may be liable for penalties and other liabilities under the O&M contracts if it fails to provide adequate services.

How to Apply for Inox Green Energy Services Limited IPO

1. Go to https://ipo.adityatrading.in/

2. Enter your client ID

3. Enter the OTP received in your registered mobile number.

4. Choose the IPO and click on apply button.

5. Enter the UPI ID, Quantity, and Cut off price.

6. Click on submit button

7. Confirm the mandate the mandate request received on your phone by entering the UPI Pin.

8. You can also watch our youtube video on “How to Apply on IPO”