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Inox Wind Limited on Friday informed that the company’s subsidiary — Inox Green Energy Services Limited (IGESL) — has withdrawn its ₹740-crore IPO.
“The board of directors of IGESL vide their resolution passed by circulation dated April 28, 2022, the letter of consent from us dated April 28, 2022, and the resolution dated April 28, 2022, passed by our committee of operations has decided to withdraw the DRHP filed with SEBI, and accordingly, the DRHP has been withdrawn on April 28, 2022,” IWL said in a regulatory filing on Friday.
IGESL had filed its DRHP on February 7, comprising fresh issue of equity shares aggregating ₹370 crore, and an offer for sale aggregating ₹370 crore by lnox Wind Limited.
In December 2021, the board of IGESL (earlier known as Inox Wind Infrastructure Services) had approved the fundraising. IGESL is engaged in the operation and maintenance of wind turbine generators.
Inox Wind shares closed at ₹108.75, marginally up by 0.09 per cent from the previous close on the BSE.
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