Inox Wind's Rs 700-cr IPO to list on March 18
12/03/2015 12:51
Inox Wind is hitting the capital market to raise up to Rs 700 crore through an initial public offering (IPO) to fund expansion and meet other requirements, reported PTI. The issue comprises a fresh offering of equity shares aggregating up to Rs 700 crore and an offer for sale of up to one crore equity shares, or 5 per cent of stake held by Inox Wind promoter Gujarat Fluorochemicals to the extend of Rs 300 crore. The issue, which will hit the market on March 18 and close on March 20, will be listed on both exchanges, NSE and BSE. The company has fixed a price band of Rs 315-325 per piece for the IPO. "We will use the funds to primarily expand our existing capacities," GFL Director Deepak Asher told reporters. The company will utilise the funds for expansion and upgradation of existing manufacturing facilities, long-term working capital requirements, investment in subsidiary Inox Wind Infrastructure Services and other infrastructure development, he said.
12/03/2015 12:51
Inox Wind is hitting the capital market to raise up to Rs 700 crore through an initial public offering (IPO) to fund expansion and meet other requirements, reported PTI. The issue comprises a fresh offering of equity shares aggregating up to Rs 700 crore and an offer for sale of up to one crore equity shares, or 5 per cent of stake held by Inox Wind promoter Gujarat Fluorochemicals to the extend of Rs 300 crore. The issue, which will hit the market on March 18 and close on March 20, will be listed on both exchanges, NSE and BSE. The company has fixed a price band of Rs 315-325 per piece for the IPO. "We will use the funds to primarily expand our existing capacities," GFL Director Deepak Asher told reporters. The company will utilise the funds for expansion and upgradation of existing manufacturing facilities, long-term working capital requirements, investment in subsidiary Inox Wind Infrastructure Services and other infrastructure development, he said.
