Inox Green Energy Services Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 85,384,615 (75%) | — | ₹55,500 Cr |
| NII (HNI) | — | 17,076,922 (15%) | — | ₹11,100 Cr |
| Retail | — | 11,384,615 (10%) | — | ₹7,400 Cr |
| Σ Total | — | 11,384,615 (10%) | — | ₹7,400 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 230 | ₹14,950 |
| Retail (Max) | 13 | 2,990 | ₹194,350 |
| S-HNI (Min) | 14 | 3,220 | ₹209,300 |
| B-HNI (Min) | 67 | 15,410 | ₹1,001,650 |
Financial Statements Amount in Crore
| Metric | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 |
|---|---|---|---|
| Revenue | 172 | 186 | 190 |
| Profit After Tax | 2 | -28 | -5 |
| Net Worth | 97 | 43 | 807 |
| Total Assets | 2,340 | 2,693 | 2,121 |
| Total Borrowing | 1,085 | 1,411 | 904 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Secured NCDs in full; and – 260.00
- 2 General corporate purposes – 78.69
Company Overview
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 a subsidiary of Inox Wind Limited ("IWL"), a company which is listed on the National Stock Exchange of India Limited and BSE Limited, and part of the Inox GFL group of companies.
Inox Green Energy services Limited provides exclusive O&M services for all WTGs sold by IWL through the entry of long-term O&M contracts between the WTG purchaser and ourselves for terms which typically range between five to 20 years.
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").
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.
The company has a presence in Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, Kerela and Tamil Nadu.
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 and Rs 1,653.15 million for Fiscals 2022, 2021 and 2020, respectively.
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.
- Strong and experienced management team.