Inox Green Energy IPO Listing : Inox Green Energy Services shares had a very poor listing today. Today, the shares of Inox Green Energy Services are listed on BSE at a discount of 7% to the issue price. The company had issued shares to investors at Rs 65 during the IPO. But today their listing on BSE has been done at the rate of Rs.60.50. Thus the investors are facing loss from the very beginning.
The stock of Inox Green Energy Services is in decline even after listing. After listing at 10 am, this share is currently trading at Rs 66.60 at around 11 am. The stock has made a low of Rs.59.00 and a high of Rs.64.00 today. Trading of 20,277,643 shares has been done since morning.
Inox Green Energy Services IPO was subscribed only 1.5 times
The IPO of Inox Green Energy Services was also undersubscribed. From this it was being speculated that there could be a bad listing of this IPO. Overall this IPO was subscribed only 1.55 times. The reserve portion of the retail investors was also subscribed only 4.7 times in this IPO. At the same time, the reserve portion for non-institutional buyers was only 47 per cent filled. Apart from this, the reserve portion for Qualified Institution Buyers was also very less i.e. 1.05 per cent.
business of the company
Inox Green Energy Services provides long-term operation and maintenance for wind farm projects. Inox Green Energy Services is primarily involved in the provision of wind turbine generators and general infrastructure facilities on wind farms. Inox Wind currently holds 93.84 per cent stake in Inox Green Energy Services. This company is the main company of this group.