Inox Green Energy Services Shares End At 9% Discount To IPO Price

The shares of Inox Green Energy Services Ltd. ended at a discount of 9.08% to the IPO price, while declining 2.31% from its listing price to end at Rs 59.10.

Inox Green Energy Services launched its three-day initial public offering on Nov. 11. The IPO was subscribed 1.55 times on the last day.

The qualified institutional buyer or QIB portion was subscribed 1.05 times, while 47% of the non-institutional investor portion was subscribed. The retail portion was subscribed 4.7 times.

Shares of Inox Green Energy Services listed at Rs 60.50 apiece on the BSE Ltd., a discount of 6.92% to its IPO price of Rs 65 apiece. On the National Stock Exchange of India Ltd., the stock debuted at Rs 60, a 7.69% discount.

The company is one of the major wind power operation and maintenance service providers within India.

It engages 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 and the common infrastructure facilities on the wind farm, which support the evacuation of power from such wind turbine generators. The long-term contracts ranges between 5 to 25 years.