Around a month ago, Inox Green had got listed on the bourses at Rs.60.50 v/s IPO price of Rs.65. It has consistently gone down but today, it’s up in the green – rising almost 15% to Rs.46.70, still below the IPO price.
The good news from the stock was that it has signed a term sheet for acquisition of majority stake in a renowned Independent O&M Wind Service Provider with a 230+MW fleet that operates majorly in South India.
This acquisition is a part of the strategic decision taken by the company to grow its fleet through the inorganic route as well. Inox Green is actively pursuing inorganic growth opportunities along with the rapid growth that it envisages from the organic route as well.
With this acquisition, Inox Green enters multi brand OEM wind turbine O&M business.
Inox Green, a part of the Inox GFL Group, is one of the major wind power operations and maintenance service providers in India with a fleet size of around 3 GW. It provides long-term O&M services for wind projects.