Inox Wind's stock has risen 5% as the company's subsidiary seeks to raise up to Rs 500 crore through IPO

Inox Wind's stock has risen 5% as the company's subsidiary seeks to raise up to Rs 500 crore through IPO Inox Wind's stock rose 5% intraday on December 6 to Rs 154.15, as its subsidiary plans to raise up to Rs 500 crore through an initial public offering [IPO]. "In a meeting held today, December 6, 2021, the board of directors of Inox Wind's material subsidiary, Inox Green Energy Services (Previously known as Inox Wind Infrastructure Services Limited) (IGESL), approved fundraising by way of an initial public offer of its Equity Shares consisting of a fresh issue of equity shares aggregating upto Rs 500 crore (fresh issue) and/or an offer of sale of equity shares by certain existing and eligible shareholders of the company." It is contingent on receiving all necessary permissions, including shareholder approval, market circumstances, and other factors.