Inox Green Energy Services may bring its IPO in the next 30-45 days. The company is a subsidiary of Inox Wind. Announcing this, CEO Kailash Tarachandani said that INOX Green Energy is going to launch an IPO of Rs 740 crore.
Inox Wind CEO Kailash Lal Tarachandani said the company will initially focus on the Indian market and plans to move to overseas market after establishing itself in this country.
This is Inox Green Energy Services’ second attempt to IPO. Earlier in February, the company had filed a draft red herring prospectus for its proposed IPO with markets regulator SEBI. However, the draft offer documents for the IPO were withdrawn at the end of April without assigning any reason.
According to the latest DRHP filed on June 17, the Rs 740-crore IPO will also include sale of equity shares worth Rs 370 crore and total equity shares of Rs 370 crore by promoter Inox Wind. Elaborating on the company’s business plans, Tarachandani said that there is already ample opportunity for us. India has been making steady progress in the last few years.