Linklaters advised the Book Running Lead Managers on the initial public offering (IPO) of INOX Green Energy Services Limited (INOX Green) on both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
The offering was for INR 7.4 billion (approx. USD 90.5 million) including a primary capital raise by INOX Green and secondary sales by its selling shareholder INOX Wind. The IPO received full subscriptions, driven by retail investors and institutional buyers.
INOX Green, part of Indian conglomerate INOX GFL Group, is one of the largest wind turbine operation and maintenance (O&M) service providers in India, providing long-term O&M services and shared infrastructure facilities for wind turbine generators.
The lead managers of the transaction included Edelweiss Financial Services Limited, Equirus Capital Limited, DAM Capital Advisors Limited, Systematix Corporate Services Limited and IDBI Capital Markets & Securities Limited.
The Linklaters team was led by Amit Singh, Head of South and Southeast Asia Capital Markets, with support from Counsel Joseph Wolpin and Associates Daryl Bryan Chee and Rushil Oberoi.
Capital Markets Partner Amit Singh, commented:
“We are very pleased to have had the opportunity to support our clients and INOX Green in this successful IPO, which represents a milestone development for INOX Green and also reflects the market appetite for renewable energy investments. Congratulations to all parties involved in this transaction.” Linklaters has built a market-leading reputation in Indian equity markets, providing the technical expertise and commercial awareness to develop novel solutions to maximize investment opportunities. With one of the largest teams focused on India and Southeast Asia, the firm has worked on a number of high profile and landmark IPOs across multiple sectors including the largest IPO in India.
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