Inox Green Energy launches QIP at ₹174.36 per share
Business
Inox Green Energy is raising funds by offering shares to big investors through a qualified institutional placement (QIP), setting the floor price at ₹174.36 per share as of September 24.
This move helps the company bring in fresh capital, with pricing done as per SEBI rules.
Inox Green Energy approvals, insiders barred
The QIP got board approval back in July and shareholders signed off in August.
There is a chance for up to a 5% discount on the floor price, subject to the approval already given by shareholders.
Also, company insiders cannot trade these shares from September 24 until two days after the final price is set, thanks to insider trading rules.