Inox Green Energy Services Limited, a subsidiary of Inox Wind Ltd., will open its Initial Public Offer on Friday, 11th, November, 2022, of equity shares of face value of Rs 10 each aggregating up to Rs 740 crore. The IPO comprises a Fresh Issue of Rs 370 crore and offer for sale up to Rs 370 crore. The Public Issue will close on Tuesday, 15th November, 2022.

The Price Band of the IPO has been fixed from Rs 61 to Rs 65 per Equity Share. Bids can be made for a minimum of 230 Equity Shares and in multiples of 230 Equity Shares thereafter. The Anchor Investor Bidding Date shall be Thursday, 10th November, 2022.

  • IPO Opens on: Friday, November 11, 2022
  • IPO Closes on: Tuesday, November 15, 2022
  • Price Band: Rs 61 to Rs 65 per Equity Share
  • Face Value: Rs 10 each
  • Offer for Sale: Aggregating to Rs 740 crore
  • Bidding: Minimum of 31 Equity Shares and in multiples

The net proceeds of the Fresh Issue are proposed to be utilised in the following manner: I. Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Secured NCDs in full; and II. General corporate purposes. The Company will receive the benefits of listing of its Equity Shares on the Stock Exchanges.

The Company

Inox Green Energy Services Ltd. is one of the major wind power operation and maintenance (“O&M”) service providers within India which was incorporated in 2012. The Company is engaged in the business of providing long-term O&M services for wind projects, specifically the provision of O&M services for wind turbine generators (“WTGs”) and the common infrastructure facilities such as pooling stations and transmission lines which support power evacuation from such WTGs. It has stable annual income owing to long-term O&M contracts.


It is a subsidiary of Inox Wind Limited with whom it enjoys a synergistic relationship and a part of the Inox GFL group of companies. As of June 30, 2022, Inox Green’s O&M services portfolio consisted of an aggregate 2,792 MW of wind farm capacity and 1,396 WTGs. As of June 30, 2022, its portfolio of O&M contracts (consisting of both comprehensive O&M contracts and common infrastructure O&M contracts) covered an aggregate of 2,792 MW of wind projects spread across eight wind-resource rich states in India with an average remaining project life of more than 20 years. The counterparties to its  O&M contracts feature a mix of independent power producers (approximately 72%), public sector undertakings (approximately 14%) and corporates (approximately 14%), as on June 30, 2022.

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