Inox Green Energy Services Limited

How to check the Inox Green Energy Services IPO allotment status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around three to five days after an IPO closes. This is also true in the case of the Inox Green Energy Services IPO. 

The Inox Green Energy Services IPO’s closing date is 15 November 2022. The Inox Green Energy Services IPO’s allotment date has been set three days later, on 18 November 2022.

Here’s a step-by-step guide on how to check the Inox Green Energy Services IPO allotment status:

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover page, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, you will find the ‘View all’ option
5. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
6. In the ‘IPO’ tab, click on ‘My applications’ 
7. In ‘My applications’, under the History section, your allotment status will be mentioned

About Inox Green Energy Services IPO

In 2015, shares of Inox Wind listed at a premium of 23% on the Indian stock markets. The ₹1,000 crore IPO was subscribed around 18 times as investors were eager to get a bite of India’s growing renewable energy market. Now, this company’s subsidiary, Inox Green Energy Services, is all set to test the IPO waters. 

The wind power operation and maintenance (O&M) service provider is ready to hit the stock markets through the Inox Green Energy Services IPO. It is engaged in the business of providing long-term O&M services for wind farm projects. 

It enjoys the benefits of being the subsidiary of Inox Wind. The parent company of Inox Green Energy Services principally manufactures and sells wind turbine generators. Inox Green Energy Services has an agreement with Inox Wind to provide exclusive O&M services for all wind turbine generators sold by the parent company. The tenure of these contracts usually ranges between 5 to 20 years. 

Meanwhile, the Inox Green Energy Services Ltd IPO will be a combination of an offer for sale and a fresh issue. The money raised through the fresh issue of the Inox Green Energy Services IPO will be used to reduce debt. 
 
Here are the key details about the Inox Green Energy Services IPO:

Financial snapshot

Here’s a quick look at  Inox Green Energy Services IPO’s strengths, weakness, opportunities and risks (SWOT analysis)

Strengths and opportunities

1. It has a diverse portfolio. The portfolio of O&M contracts covers an aggregate of 2,792 MW of wind projects spread across eight wind-resource rich states in India
2. O&M contracts feature a mix of customers – independent power producers (72%), public sector undertakings (14%) and corporates (14%)
3. According to the International Energy Agency (IEA), India is the third largest energy consuming country in the world
4. The IEA predicts that by 2040, India could add 900 GW of wind and solar capacity
5. It has a reliable cash flow supported by long-term O&M contracts 
6. Its contracts feature a built-in fixed price escalation formula of approximately 5% per annum, which provides price certainty and guarantees

Risks and threats

1. Dependent on its parent company Inox Wind for revenue 
2. A decline in the global prices of oil, gas and coal and other petroleum products, could result in lower demand for wind energy projects
3. The demand for its services is primarily dependent on the demand for electricity. Economic downturns may cause demand for electricity to decrease
4. Reported losses in the past three financial years and may incur additional losses in the future
5. Has outstanding borrowings or debt (on a consolidated basis) of ₹ 1,064.9 crore
6. Operates in a highly competitive wind energy industry

Inox Green Energy Services IPO details

| Inox Green Energy Services IPO date 

The offer document filed by the company with the SEBI mentions that the Inox Green Energy Services IPO’s opening date – in other words, the Inox Green Energy Services IPO launch date – will be on 11 November 2022. The Inox Green Energy Services IPO closing date is 15 November 2022. After this, investors will be updated about the allotment status on 18 November 2022. 

Investors, who have been allotted shares, can expect them to be credited in their demat account on 22 November 2022. The Inox Green Energy Services IPO listing date is 23 November 2022. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.  

| Inox Green Energy Services IPO Price Band

The entire IPO is a book-built issue. The Inox Green Energy Services IPO price band has been set between ₹61 and ₹65 per share. Interested investors can choose a price within this band to apply for the IPO. 

The Inox Green Energy Services IPO listing price will be determined on 23 November 2022. The listing price is the price at which the shares of a company make their debut on the stock exchanges. 

| Inox Green Energy Services IPO Lot size

The Inox Green Energy Services IPO details have been declared. The Inox Green Energy Services IPO lot size is set at 230 shares, and an investor can apply for a minimum of 1 lot. Individual investors applying under the retail category can apply for up to 13 lots (2,990 shares). Meanwhile, the Inox Green Energy Services IPO issue size is ₹740 crore.  

How to pre-apply for the Inox Green Energy Services  IPO?

You can pre-apply for the Inox Green Energy Services IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. 

Follow these steps to pre-apply for the IPO: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘Inox Green Energy Services IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Pre-Apply’
7. Accept the mandate on your UPI app

How to apply for the Inox Green Energy Services  IPO?

If you are interested in this investment opportunity but unsure how to apply for the Inox Green Energy Services IPO, here we are listing out the steps for you. 

Here’s a step-by-step guide on how to apply for the Inox Green Energy Services IPO on Upstox: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘Inox Green Energy Services IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Apply’
7. Accept the mandate on your UPI app

Open a demat account with Upstox to apply for the Inox Green Energy Services  IPO

To apply for the Inox Green Energy Services IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.

Here is a step-by-step guide on how to open a demat account with Upstox:

1. Click here to visit the demat account opening page on the Upstox website. 
2. Enter your phone number and other essential details to begin opening a demat account.
3. Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed. 
4. Complete the e-verification using the OTP sent to your registered mobile number. 

This is all it takes to open a demat account with Upstox. Easy and quick, right? 

Upstox – trading app to apply for the Inox Green Energy Services  IPO

Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India. 

You can apply for the Inox Green Energy Services IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero. 

In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.