Inox Green Energy Filed Draft Papers with SEBI
Inox
Green Energy Services has filed the draft red herring prospectus for IPO with
the Securities and Exchange Board of India, parent Inox Wind informed
the stock exchanges on February 8.
The
proposed offer consists of a fresh issue of equity shares worth up to Rs 370
crore and an offer for sale of up to Rs 370 crore by Inox Green, Inox Wind said
in an exchange filing.
Inox
Wind said that the board of its subsidiary on January 18 approved the IPO.
The
IPO comes at a time when interest in renewable energy companies is running high
due to increased focus on global climate transition.
With
the Union Budget 2022 also providing measures for boosting renewable
energy sources in India going ahead, interest in this space is expected to
remain high in coming years.
India
had committed to a net-zero carbon economy by 2070 at the recently concluded
COP26 Climate Summit in November.