Inox Green opens $63M QIP at US$2.37 floor price
What's the deal? Inox Green Energy ServicesDealroom has a profile for this one. Try Dealroom → on Thursday launched its qualified institutional placement (QIP) at a floor price of US$2.37 per equity share. The company is raising US$81.5M (roughly $63 million) through the post-IPO equity issue.
Why now? The board approved raising up to US$81.5M through multiple financial instruments, including a QIP, on July 22. The launch follows that authorisation.
What's the endgame? A QIP lets listed companies raise capital by selling shares to institutional investors, a faster route than a public offering. The floor price sits just above the stock's latest close.
The signal: Inox Green's shares fell 0.20% to close at US$2.37 on the BSEDealroom has a profile for this one. Try Dealroom →, leaving the floor price marginally above market — a tight window that will test institutional appetite.
Read more: ptinews.com
Image credit: jkbrooks85
