Inox Winds aims to raise Rs 1,000 cr in IPO

Optimistic about the next wave of growth in wind power, the $2 billion Inox

RELATED ARTICLES

Group is looking at the capital market for Inox Wind Ltd to raise around Rs 1,000 crore by this fiscal.

It would be the third entity of the group to get listed.

"We are looking at raising around Rs 1,000 crore from the market. Our merchant bankers have indicated that we may get the approval from regulators soon. We may list it by this fiscal," Inox Wind Ltd director Devansh Jain told PTI.

He said the company will dilute only a minority stake in the proposed public offer.

Wind power solutions providers since 2010, Inox Wind is a subsidiary of listed Gujarat Fluorochemicals. The other publicly held company under the group is Inox Leisure.

Jain said the new government is giving a major thrust to the renewables including wind power and he hoped that a domestic market of wind power projects totalling 3.5 GW will roll out year-on-year.

He said the company expected accelerated depreciation benefit being restored for wind power and a boost for this form of renewable energy industry to come out of sluggish growth seen in the last 2-3 years.

"We have generation based incentive now and do not see any reason that accelerated depreciation benefit being restored as government has recognised the issue," Jain said.

Despite odds the the industry trend has been bucked and is profitable since 2011, Jain said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Those willfully defaulting on loans should be blacklisted by Sebi

    As reported by this newspaper’s Monday edition, the Securities and Exchange Board of India (Sebi) has found merit in the Reserve Bank of India’s s

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Kickstarting technological innovation

One of the key dimensions of global competitiveness is the ...

Kuruvilla Pandikattu SJ

Developing moral, spiritual capacity

Writing in The Huffington Post, Noam Chomsky, professor emeritus, MIT ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture