Inox Wind awaits nod for IPO
Inox looking to raise as much as Rs.1,000 crore by selling shares to the public
Kolkata: Wind turbine manufacturer Inox Wind Ltd is looking to raise as much as Rs.1,000 crore by selling shares to the public, director Devansh Jain said, adding the company was awaiting regulatory approvals.
Inox Wind plans to double its revenue to Rs.4,000 crore in 2014-15, Jain said. It has orders to supply equipment that can generate up to 700 MW of wind power, he said, adding it was helping set up a 170 MW wind farm in Maharashtra.
The company has a factory in Gujarat and Himachal Pradesh and plans to invest at least Rs154 crore to expand production capacity, According to its draft offer document, Inox Wind has an annual capacity to build turbine blades that can generate 600 MW of wind power and the nacelle and hub–another key component of wind turbines–capable of generating 800 MW of power a year, Jain said.
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