Inox Green Energy Services scraps IPO plans; withdraws draft papers ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 10
Inox Wind on Friday said its arm Inox Green Energy Services Ltd (IGESL) has decided to withdraw its proposed Rs 740 crore initial share sale offer. The Initial Public Offering (IPO) was slated to issue fresh shares worth Rs 370 crore, besides an Offer for Sale (OFS) of equity stocks aggregating to Rs 370 crore by Inox Wind. The company had filed the Draft Red Herring Prospectus (DRHP) for the proposed IPO on February 7 with the Securities and Exchange Board of India (Sebi). However, the draft offer documents for the IPO have been withdrawn on April 28 and the reasons for the withdrawal have not been disclosed. "We have been informed by the IGESL that its board of directors vide their resolut

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