The Inox, providers of wind energy technology is expecting Inox Wind to raise around Rs 1,000 crore through IPO for this fiscal year, reported PTI.
“An amount of around Rs 1,000 crore will be accredited from the market. The merchant bankers have indicated about approval from regulators soon. Listing will be possible by this fiscal. The company will dilute only a minority stake in the proposed public offer,” news agency quoted Devansh Jain, director, Inox.
This will be the third entity of the group to get listed. Inox Wind is a subsidiary of listed Gujarat Fluorochemicals. Leisure is another publicly held company from the Inox group, reported the news firm.
The government is promoting the renewables including wind power and a domestic wind power market totalling 3.5 GW is expected to outset every year. The company expects resorting accelerated depreciation benefit for wind power and a boost for this form of renewable energy industry to sustain.
The government has recognised accelerated depreciation benefit issue and there is no reason in resorting this as company has generation based incentive. The industry trend is showing thrives and is profitable since 2011, news reported quoting Jain.
editor@greentechlead.com