The Price Band for equity shares of Inox Wind Ltd. will be Rs. 315 to Rs.325 per share and the issue shall remain open for subscription between March 18, 2015 and March 20, 2015. The company is planning to raise close to Rs. 1000 crores from the issue out which Rs. 700 crores will come from fresh issue of shares and remaining Rs. 300 crores from sale of shares from promoter company Gujarat Fluorochemicals Ltd (GFL).
About the Company
Inox Wind Limited, incorporated about 6 years back in 2009, as the name suggests operates in Wind power solutions and manufactures Wind Turbine generators. The company also offers services related to wind power projects like site acquisition, wind resource assessment, erection and commissioning, infrastructure development and operations and maintenance of long term wind power projects.
With its view to ensure high quality, advanced technology, reliability and cost competitiveness, company hass the in-house capability to manufactures the components of wind turbine generators. Company also has the facilities meant for manufacturing nacelles, hubs, rotor blade sets and towers that is required for any wind power plant. It has a perpetual license from AMSC Austria GmbH (formerly Windtec GmbH), or AMSC, a leading wind energy technology company based in Austria, to manufacture 2 MW WTGs in India based on AMSC’s proprietary technology.
The company is promoted by Gujarat Fluorochemicals Limited (GFL) which is already a listed company in both BSE and NSE.
Objects of the Issue:
The objects that are to be achieved from the fresh capital are
- Upgradation and expansion of existing manufacturing facilities
- Investment in Subsidiary, IWISL, for the purpose of development of power evacuation infrastructure and other infrastructure development
- Long term working capital requirements;
- General Corporate Purposes.