Power solutions provider Inox Wind has filed Draft Red Herring Prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) to raise Rs 700 crore through Initial Public Offering (IPO). The equity shares offered in the issue are proposed to be listed on BSE and the National Stock Exchange of India (NSE).
The proceeds of the issue will be utilised for expansion and up-gradation of existing manufacturing facilities, to meet long term working capital requirements, for investing in its subsidiary Inox Wind Infrastructure Services (IWISL) and to develop power evacuation infrastructure and other general purposes. Further, Axis Capital, DSP Merrill Lynch and Edelweiss Financial Services and YES Bank are the book running lead managers to the issue.
Inox Wind is wind power solutions provider. It manufactures wind turbine generators and provides turnkey solutions for wind farm projects.
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