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Inox Wind prices IPO at top

According to reports, Indian stock wind energy company, Inox Wind, priced its initial public offering at the very top of its indicative range on Wednesday, raising Rs10.2 billion ($163 million). The combination of a favoured government sector and the recent outperformance of India’s stock markets enabled the company to attract strong demand particularly from international investors. The company sold 22 million primary shares and 10 million secondary shares at Rs325 per share, the very top of its Rs315 to Rs325 ... Read More »

Suzlon to sell SE Forge, other assets

According to reports, Tulsi Tanti-led Suzlon Group plans to raise Rs 2,500 crore by selling its Vadodra-based forging unit, SE Forge, and other assets, as the world’s fifth largest wind turbine maker looks to reduce its debt. Suzlon, which has hired SBI Capital Markets to find buyers for its assets, is close to sealing a deal for SE Forge, said people familiar with the matter. The latest plan comes close on the heels of Tanti selling a 23% stake in ... Read More »

India’s Inox Wind up to $164 mln IPO subscribed more than 18 times

According to reports, Indian wind-turbine maker Inox Wind Ltd’s up to 10.25 billion rupees ($164 million) initial public offering, the biggest in more than two years, was subscribed over 18 times, as investors bet on the growth potential for renewable energy. Inox Wind, India’s fourth-biggest wind turbine generator maker, was raising 7 billion rupees in the IPO, while its parent Gujarat Fluorochemicals Ltd was selling 10 million shares in the company in a price range of 315-325 rupees apiece. The ... Read More »

How Inox Wind stacks up against Suzlon

According to reports, wind power segment is witnessing a lot of activity over the past few months. Suzlon has attracted investment from Dilip Sanghavi and Associates infusing new life into the company. Inox Wind, a Gujarat Fluorochemicals promoted company is now tapping the market to raise funds to expand its capacity. Wind power companies were affected by the previous government’s decision to remove accelerated depreciation policy. Wind Power units were being sold to high net worth individuals and corporates as ... Read More »

Suzlon Energy up 4%; HDFC Sec initiates coverage with buy

According to reports, shares of Suzlon Energy gained 4.4 percent intraday on Tuesday after brokerage house HDFC Securities initiated coverage with a buy on the stock and set a target price of Rs 34 apiece. Having faced multiple crises over FY09-14, the brokerage believes Suzlon is on the cusp of a turnaround. Suzlon has aggressively reduced debt from its heavily levered balance sheet by divesting its German subsidiary Senvion (for Euro 1 billion) and via a preferential issue of Rs ... Read More »

Hot stock: Suzlon Energy in limelight on ‘buy call, launch of Inox Wind IPO

According to reports, shares of renewable energy player Suzlon Energy has surged as nuch as 13.4 per cent in last two sessions after a ‘Buy’ report from HDFC Securities and the launch of Inox Wind initial public offering. The stock rose from Rs 26.00 levels recorded on 16 March to Rs 29.50 registered on 18th March. The stock closed 10.9 per cent higher on Wednesday at Rs 29.50. The Inox Wind IPO is having a rub-off effect on the company ... Read More »

Inox Wind IPO: high, but justifiable premium

According to reports, investors with an appetite for risk and a perspective of 2-3 years can subscribe to the initial public offer of Inox Wind Ltd, a manufacturer of wind turbine generators (WTGs). At the price band of ₹315-325, the stock discounts its annualised earnings for the nine months ended December 2014 by 29-30 times on the post-issue equity. The valuation seems to be a bit on the higher side. Suzlon, the only listed peer in India is loss-making and ... Read More »

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