Inox Green Energy Services files DRHP for IPO with Sebi, issue size of Rs 740 crore

IPO-bound Pine Labs acquires Qfix as it adds more thrust to online payments foray

IGESL is engaged in the business of providing long-term operation and maintenance (O&M) services for wind farm projects, specifically the provision of O&M (operations and maintenance) services for wind turbine generators (WTGs) and the common infrastructure facilities on the wind farm, which support the evacuation of power from such WTGs.

For the nine months ended December 31, 2021, and FY2021, the company's revenue from operations was Rs 1,270.99 million and Rs 1,722.48 million, respectively.

Edelweiss Financial Services, DAM Capital Advisors, Equirus Capital, IDBI Capital Markets & Securities and Systematix Corporate Services are the book running lead managers to the issue.

Also Read: LIC IPO: DRHP expected soon; embedded value seen at Rs 5.4 lakh crore

Earlier in December 2021, the board of IGESL (Earlier known as Inox Wind Infrastructure Services Ltd) had approved fundraising, subject to receipt of requisite approvals, including clearance of the shareholders, market conditions and other considerations, by way of an IPO.

In 2022, as an existing and eligible shareholder of IGESL, Inox Wind had accorded its approval to participate in the proposed offer through an offer for the sale of equity shares.