Linklaters advises on INOX Green Energy Services’ IPO

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 comprised INR 7.4bn (approx. US$90.5m), 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 the Indian conglomerate INOX GFL Group, is one of the major wind power operation and maintenance (O&M) service providers in India, providing long-term O&M services and common infrastructure facilities for wind turbine generators.

The lead managers on 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 Head of South and Southeast Asia Capital Markets Amit Singh, with support from counsel Joseph Wolpin and associates Daryl Bryan Chee and Rushil Oberoi.

Capital markets partner Amit Singh, commented:

“We are delighted to have had the opportunity to support our clients and INOX Green on this successful IPO, which is a milestone development for INOX Green and also represents the market appetite for investment in the renewable sector. We congratulate all parties involved in this transaction.” 

Linklaters has established a market-leading reputation in the Indian equity capital markets, offering technical expertise and commercial awareness to create novel solutions to maximise investment opportunities. Having one of the largest teams focussing on India and Southeast Asia, the firm has worked on a number of high-profile and landmark IPOs across various sectors, including the largest IPO in India.