INOX Wind IPO subscribed 18.6 times!

The initial public offer of Inox Wind, an integrated wind energy firm, has been subscribed nearly 19 times at the end of its three-day IPO window.

The over Rs 700 crore IPO (Read: Inox Wind – IPO: Should you subscribe?) received bids for over 43,15,65,435 shares as against the issue size of 2,32,01,121 shares, data available with the BSE & NSE showed. Besides the company has allocated shares worth Rs 306 crore to anchor investors, taking the total issue size to over Rs 1,000 crore.

The final break-up for subscription in retail, qualified institutional buyers and non institutional investors category are as follows:

The portion allocated for qualified institutional buyers saw 35.68 times subscription with bids received for 23.68 cr shares as against the 66.37 lakh share allocation. The non institutional investor portion witnessed a like response with 35.38 times subscription with bids for 17.04 cr shares as against the 48.18 lakh share allocation.
The category for retail individual investors was subscribed 2.15 times with bids for 2.41 cr shares as against the allocated 1.12 cr shares.

The price band for the integrated wind energy firm’s initial share sale has been fixed at Rs 315-325 apiece.

Inox Wind, earlier this week, had announced that it would allocate a little over 94.25 lakh shares for Rs 306 crore to anchor investors. The public issue consists of a fresh issue of shares and an offer for sale of 1 crore equity shares (including anchor portion).

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, are among the anchor investors.

The IPO, which opened on March 18, closed today.