Inox Green Launches QIP Issue at Floor Price of Rs 174.36 per Share

New Delhi: Inox Green on Thursday announced the launch of its qualified institutional placement issue at a floor price of Rs 174.36 per equity share.

On July 22, the company’s board had approved raising up to Rs 600 crore through multiple financial instruments, including a QIP issue.

The company’s shares fell 0.20 per cent to close at Rs 174.25 per share on BSE.

In an exchange filing, Inox Green Energy Services Ltd (IGESL) said its committee of the board of directors on Thursday approved the floor price for the QIP issue at Rs 174.36 per equity share (floor price).

The company said it may, at its discretion, offer a discount of not more than 5 per cent on the floor price so calculated for the issue.

The issue price of the equity shares will be determined by the company in consultation with the book running lead manager appointed for the issue.

In July, the company approved raising of funds aggregating up to Rs 600 crore comprising a base issue size of up to Rs 400 crore and a green shoe option of up to Rs 200 crore by way of issuance of any instrument or security for cash, including equity shares, preference shares, fully or partly convertible debentures, non-convertible debentures or others, including by way of preferential allotment or a private placement, qualified institutions placement(s).

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