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Inox Wind IPO subscribed more than 18 times


24 Mar 2015
Inox Wind IPO subscribed more than 18 times
Country’s leading turbine maker Inox Wind garnered USD 2.2 billion, on the back of overwhelming response from investors, in its initial public offering as was subscribed of over 18 times on the last day of the share sale on March 20.

The investors betted on the core renewable energy company, keeping in mind the growth potential of the sector and the government’s budgetary allocation in the recently concluded budget session. The central government led by Narendra Modi has given much impetus to renewable sources to bridge energy deficit in the country.

According to data available with National Security Exchange, the company received bids for over 43.08 crore shares as against the issue size of more than 2.32 crore shares - a subscription of 18.57 times.

Meanwhile, the company allocated little over 94.25 lakh shares at a price of Rs 325 apiece to anchor investors.

Goldman Sachs India Fund, Swiss Finance Corp (Mauritius) Ltd, Indus India Fund (Mauritius) Ltd, IDFC Infrastructure Fund and Sundaram Mutual Fund A/C Sundaram Equity Multiplier, were among the anchor investors.
Source: Dion Global   Type: IPO Related