Inox Wind IPO
Inox Wind IPO — date, price band, lot size & details 2015
Inox Wind listed on 9 Apr 2015 at ₹400, 23.1% above the ₹325 issue price.
Inox Wind makes wind turbine generators and offers wind project services from site assessment to erection and long term O&M. Its total income was Rs 1,416.84 crore in FY2014.
Stock price
Inox Wind is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 18 Mar 2015
- Close 20 Mar 2015
- Allotment 30 Mar 2015
- Refund/credit TBA
- Listing 09 Apr 2015
Issue summary
The terms of the offer, as filed.
| IPO Dates | 18 to 20 Mar, 2015 |
|---|---|
| Price Band | ₹315 – ₹325 |
| Face Value | ₹10 |
| Lot Size | 45 Shares |
| Issue Size | ₹1020.53 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 15.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,625 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 45 shares at the ₹325 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 45 | ₹14,625 |
| Retail (max) | 13 | 585 | ₹1,90,125 |
| S-HNI (min) | 14 | 630 | ₹2,04,750 |
| S-HNI (max) | 68 | 3,060 | ₹9,94,500 |
| B-HNI (min) | 69 | 3,105 | ₹10,09,125 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 622.00 crore in FY2012 to Rs 1,416.84 crore in FY2014.
- 02Profit after tax rose from Rs 99.84 crore in FY2012 to Rs 144.11 crore in FY2014, and was Rs 197.65 crore in nine months to December 2014.
- 03Net worth rose from Rs 134.85 crore in FY2012 to Rs 625.86 crore on 31 December 2014.
- 04It offers end to end wind project services, and Rs 147.48 crore of the issue was for expanding its plants.
Risks · 5
- 01Total borrowing rose from Rs 336.74 crore in FY2012 to Rs 728.79 crore on 31 December 2014.
- 02Rs 290.00 crore of the issue was for working capital, as wind projects tie up cash.
- 03Wind demand depends on government incentives and tariffs; profit dipped from Rs 147.69 crore in FY2013 to Rs 144.11 crore in FY2014.
- 04Rs 319.73 crore of the issue went to its promoter as offer for sale.
- 05Gujarat Fluorochemicals held 100% before the issue and 85.62% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the Inox Wind offer document.
| Metric | 31 Dec 2014 | 31 Mar 2014 | 31 Mar 2013 | 31 Mar 2012 |
|---|---|---|---|---|
| Assets | 2,083.08 | 1,284.01 | 1,366.41 | 906.92 |
| Total Income | 1,661.40 | 1,416.84 | 1,005.19 | 622.00 |
| Profit After Tax | 197.65 | 144.11 | 147.69 | 99.84 |
| NET Worth | 625.86 | 429.70 | 292.84 | 134.85 |
| Reserves and Surplus | 425.86 | 229.70 | 252.84 | 104.85 |
| Total Borrowing | 728.79 | 532.95 | 480.40 | 336.74 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Inox Wind RHP.
Where the money goes
₹662.68 Cr of the issue is earmarked to named objects.
About the company
It is a leading wind power solutions provider in India and makes wind turbine generators, with key components made in house.
It also offers wind resource assessment, site acquisition, infrastructure development, erection and commissioning, and long term operation and maintenance of wind power projects.
The IPO was Rs 1,020.53 crore, with Rs 700.80 crore of fresh issue and Rs 319.73 crore of offer for sale by Gujarat Fluorochemicals, at Rs 325, the top of the Rs 315 to Rs 325 band. The fresh money was for expanding its plants, working capital and its infrastructure subsidiary.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Inox Wind IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
YES Bank Ltd
14 issues handledBest listing: CDSL (+67.8%). Weakest: New India Assurance (-6.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Inox Wind?
The current Grey Market Premium is ₹0.
What is the Inox Wind IPO price band?
₹315 to ₹325, on a face value of ₹10.
When is the allotment?
The basis of allotment is 30 March 2015, with listing on 9 April 2015.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
