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

November 11, 2022 - November 15, 2022

Inox Green Energy IPO is a book built issue of Rs 740.00 crores. The issue is a combination of fresh issue of 5.69 crore shares aggregating to Rs 370.00 crores and offer for sale of 5.69 crore shares aggregating to Rs 370.00 crores.

Inox Green Energy IPO bidding started from November 11, 2022 and ended on November 15, 2022. The allotment for Inox Green Energy IPO was finalized on Friday, November 18, 2022. The shares got listed on BSE, NSE on November 23, 2022.

Inox Green Energy IPO price band is set at ₹61 to ₹65 per share. The minimum lot size for an application is 230 Shares. The minimum amount of investment required by retail investors is ₹14,950. The minimum lot size investment for sNII is 14 lots (3,220 shares), amounting to ₹209,300, and for bNII, it is 67 lots (15,410 shares), amounting to ₹1,001,650.

Edelweiss Financial Services Ltd, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Equirus Capital Private Limited, Idbi Capital Market Services Limited and Systematix Corporate Services Limited are the book running lead managers of the Inox Green Energy IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Inox Green Energy IPO RHP for detailed information.

Inox Green Energy IPO Details

IPO Date November 11, 2022 to November 15, 2022
Listing Date November 23, 2022
Face Value ₹10 per share
Price Band ₹61 to ₹65 per share
Lot Size 230 Shares
Total Issue Size113,846,154 shares
(aggregating up to ₹740.00 Cr)
Fresh Issue56,923,077 shares
(aggregating up to ₹370.00 Cr)
Offer for Sale56,923,077 shares of ₹10
(aggregating up to ₹370.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Inox Green Energy IPO Reservation

Inox Green Energy IPO offers 66,721,310 shares. 36,393,442 (54.55%) to QIB, 18,196,721 (27.27%) to NII, 12,131,147 (18.18%) to RII. 52,744 RIIs will receive minimum 230 shares and 1,883 (sNII) and 3,767 (bNII) will receive minimum 3,220 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered36,393,442 (54.55%)NA
NII (HNI) Shares Offered18,196,721 (27.27%)
  bNII > ₹10L12,131,147 (18.18%)3,767
  sNII < ₹10L6,065,574 (9.09%)1,883
Retail Shares Offered12,131,147 (18.18%)52,744
Total Shares Offered66,721,310 (100%)

Inox Green Energy IPO Timeline (Tentative Schedule)

Inox Green Energy IPO opens on November 11, 2022, and closes on November 15, 2022.

IPO Open Date Friday, November 11, 2022
IPO Close Date Tuesday, November 15, 2022
Basis of Allotment Friday, November 18, 2022
Initiation of Refunds Monday, November 21, 2022
Credit of Shares to Demat Tuesday, November 22, 2022
Listing Date Wednesday, November 23, 2022
Cut-off time for UPI mandate confirmation 5 PM on November 15, 2022

Inox Green Energy IPO Lot Size

Investors can bid for a minimum of 230 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 230 ₹14,950
Retail (Max) 13 2990 ₹194,350
S-HNI (Min) 14 3,220 ₹209,300
S-HNI (Max) 66 15,180 ₹986,700
B-HNI (Min) 67 15,410 ₹1,001,650
Lot Size Calculator

Inox Green Energy IPO Promoter Holding

Inox Wind Limited is the company promoter.

Share Holding Pre Issue 93.84%
Share Holding Post Issue 56.04%

About Inox Green Energy Services Limited

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.


  • 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.

Company Financials

Inox Green Energy Services Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthTotal Borrowing
Amount in ₹ Crore

Key Performance Indicator

Inox Green Energy IPO Market Cap is Rs 1897.61 Cr and P/E (x) is -327.

KPI Values
P/E (x)-327
Market Cap (₹ Cr.)1897.61

Objects of the Issue (Inox Green Energy IPO Objectives)

The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue:

I. Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company including redemption of Non- Convertible Debentures in full.

II. General corporate purposes.

Inox Green Energy IPO Review (May apply)

[Dilip Davda]  IGESL enjoys good parentage. It is poised for bright prospects ahead with major spending on renewable energies under “Atmanirbhar Bharat” initiatives. Well, based on its current financials, the issue is priced at a negative P/E. But keeping in mind the future prospects and rising demand for wind energy, well-informed investors may consider parking funds for medium to long-term rewards. Read detail review...

Inox Green Energy IPO Subscription Status (Bidding Detail)

The Inox Green Energy IPO is subscribed 1.55 times on November 15, 2022 7:00:00 PM. The public issue subscribed 4.70 times in the retail category, 1.05 times in the QIB category, and 0.47 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
    bNII (bids above ₹10L)0.39
    sNII (bids below ₹10L)0.64

Inox Green Energy IPO Prospectus

Inox Green Energy IPO Rating

Rating:Rated 3.4 stars
Vote Here ...

Inox Green Energy IPO Listing Details

Listing Date November 23, 2022
BSE Script Code 543667
ISIN INE510W01014
Final Issue Price ₹65 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

Inox Green Energy Services Limited Contact Details

Inox Green Energy Services Limited
Survey No. 1837 & 1834
At Moje Jetalpur ABS Towers, Second Floor
Old Padra Road, Vadodara- 390 007
Phone: +91 120 6149 600

Inox Green Energy IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Inox Green Energy IPO FAQs

Inox Green Energy IPO is a main-board IPO of 113,846,154 equity shares of the face value of ₹10 aggregating up to ₹740.00 Crores. The issue is priced at ₹61 to ₹65 per share. The minimum order quantity is 230 Shares.

The IPO opens on November 11, 2022, and closes on November 15, 2022.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Inox Green Energy IPO using UPI as a payment gateway. Zerodha customers can apply in Inox Green Energy IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Inox Green Energy IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Inox Green Energy IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Inox Green Energy IPO opens on November 11, 2022 and closes on November 15, 2022.

Inox Green Energy IPO lot size is 230 Shares, and the minimum amount required is ₹14,950.

You can apply in Inox Green Energy IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Inox Green Energy IPO will be done on Friday, November 18, 2022, and the allotted shares will be credited to your demat account by Tuesday, November 22, 2022. Check the Inox Green Energy IPO allotment status.

The Inox Green Energy IPO listing date is on November 23, 2022.
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Inox Green Energy IPO Message Board

Ranked Members of Forum  Ranked Members | Most Liked Members



136. CoolAsh |   Link |December 11, 2022 11:14:02 AM (400+ Posts)
Any views at current price?
136.1. Madhur Jain CA |   Link |December 24, 2022 5:16:55 PM
wait 1-2 month it will be available under 20
135. SARIT |   Link |December 3, 2022 9:24:44 AM
I have Prostock Demat account for minor. Which bank will allow ASBA application in the name of Minor?
My SBI account has just stopped ASBA Application in Minor's name with error message : " PAN Not mapped".
Please help.
134. Jaga |   Link |November 28, 2022 9:43:13 PM
28-Nov-2022      INOXGREEN      Inox Green Energy Ser Ltd      DOVETAIL INDIA FUND CLASS 6 SHARES      SELL      18,00,000      61.69
133. i For IPO ☑️ |   Link |November 21, 2022 1:37:53 PM
IPO Mentor IPO Mentor (500+ Posts, 700+ Likes)
Sir You Need 65% Returns On This Issue

100+ Listing

Iam Happy If Its In Green And 5 to 8% Returns after That.

100+ Listing Look Impossible

67 - 68 My Prediction
133.5. Shailesh vaghela |   Link |November 23, 2022 2:24:08 PM
Poor financial
133.6. mDelhi |   Link |November 24, 2022 10:10:43 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
@i For IPO
🙏🏻 🙏🏻
132. Killerr |   Link |November 23, 2022 6:53:20 PM
Fund house but/sell quantity price
ELARA INDIA OPPORTUNITIES FUND LIMITED       SELL      22,07,590      60.17      
ICM FINANCE PRIVATE LIMITED      BUY      20,40,000      61.82      -
NOMURA SINGAPORE LIMITED      SELL      14,60,728      60.35      -
PILOT CONSULTANTS PVT LTD      BUY      57,66,000      60.61      -
POLUS GLOBAL FUND      SELL      53,85,450      61.21      -
YES BANK LTD      SELL      23,07,590      61.01      
131. Regulagedda Ambica Prasad |   Link |November 23, 2022 11:10:26 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Bought in open market @60
131.1. svh |   Link |November 23, 2022 4:15:38 PM
IPO Guru IPO Guru (2100+ Posts, 3400+ Likes)
Exit @ 62 tomorrow if bought for short term.
Making new lows at regular interval. Weak structure.
130. pRACE |   Link |November 23, 2022 3:04:35 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
out of topic

bikaji uc ji..
129. Ankur Goel |   Link |November 23, 2022 9:52:06 AM
IPO Mentor IPO Mentor (800+ Posts, 400+ Likes)
What is sysmbol of inbox green in zerodha. It is not coming in watchlist. Anybody can help.
129.6. svh |   Link |November 23, 2022 10:22:20 AM
IPO Guru IPO Guru (2100+ Posts, 3400+ Likes)
Try call n trade with bse code if possible.
129.7. RAG |   Link |November 23, 2022 10:33:46 AM (300+ Posts)
U have to write INOXGREEN
128. PKRAJ |   Link |November 23, 2022 10:21:10 AM
IPO Guru IPO Guru (1700+ Posts, 1200+ Likes)
Not a bad listing. I was expecting it about 10% below.Today's market in green helped a better listing.
Likely to go down further if the market come in red.
Over all not a good investment. I was never in favor of this IPO.
Suno sabki karo man ki.
127. amit rajput |   Link |November 23, 2022 10:19:05 AM
inox green to RED ho gaya ha ha ha
126. Ajaysinh Jadeja |   Link |November 23, 2022 10:02:16 AM (200+ Posts)

ISSUE PRICE: ₹ 65.00


BSE: ₹ 60.50
NSE: ₹ 60.00
125. pRACE |   Link |November 23, 2022 9:29:45 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
i have put buy order in range of 58, 56, and 53, lets see...
125.3. pRACE |   Link |November 23, 2022 9:46:24 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
not got...
125.4. svh |   Link |November 23, 2022 9:48:35 AM
IPO Guru IPO Guru (2100+ Posts, 3400+ Likes)
I also missed :(
124. SONMAYA |   Link |November 23, 2022 9:47:35 AM
IPO Mentor IPO Mentor (1100+ Posts, 300+ Likes)
Listed at 60 RS...VERY BAD LISTING
123. kumar babu |   Link |November 22, 2022 4:55:22 PM
Highly likely negative listing because of high applications in retails and low from QIB and HNI, my guess listing @62 and selling pressure through out first day.
123.1. Gaurav DD dimer |   Link |November 22, 2022 6:13:11 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
No selling pressure, None of the category holding much quantity.

NII (not subscribed fully)
RII (only 10% quota).
QIB (1 time only, so won't get hni unsubscribe share).
123.2. kumar babu |   Link |November 23, 2022 9:41:53 AM
Selling Pressure due to bad Market sentiments, lets see
122. SATISH CHAVDA |   Link |November 23, 2022 9:34:26 AM
NSE Current Quotation Rs.60/-
121. M L Yadav |   Link |November 23, 2022 9:25:56 AM
Please share pre open link
120. SSH |   Link |November 23, 2022 9:22:30 AM
Indicative Equilibrium Price: 65
119. Earthking |   Link |November 23, 2022 9:08:57 AM
IPO Mentor IPO Mentor (1000+ Posts, 300+ Likes)
Whats happening ... Pre-open rates start with 140% rise ... in all good IPOs with high GMP usually it starts with negative ... here 10 lakh buyers and 5 lakh sellers ...
119.1. arvindarvind |   Link |November 23, 2022 9:17:59 AM
Top Contributor Top Contributor (900+ Posts, 200+ Likes)
Its seems it is being manipulated by operator
118. Takamichi |   Link |November 23, 2022 1:55:52 AM
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
Most accurate prediction.....
Listing in range of 001 to 150.....
100 percent sure ....

117. ARJUN'S EYE |   Link |November 22, 2022 5:40:47 PM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)

*Inox Green Energy Services Limited*

Listing Date : *Wednesday, Nov 23 2022*
ISIN : *INE510W01014*
BSE : *543667 (B Group)*
Total Shares : *291939334*
Face Value : *₹10*
IPO Price : *₹65*