India’s Inox Wind ushers in $163m IPO

Inox Wind is set to launch its Rp10.40bn ($168.39m) IPO on March 18, in what looks to be India’s largest listing in nearly two years. The deal is already generating lots of buzz given its credentials as a unit of the Inox Group and for being a rare issuer in the renewable energy sector.

  • By John Loh
  • 11 Mar 2015


The wind turbine manufacturer will sell 32m shares, of which 22m are primary. The price range has been fixed at Rp315-Rp325, potentially raising Rp10.08bn-Rp10.40bn, according to a term sheet.

Inox Wind is to raise Rp7bn in new equity and up to Rp3.25bn for the selling shareholders. The ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 21.17
2 China Merchants Securities Co 17.84
3 Industrial and Commercial Bank of China (ICBC) 14.86
4 Agricultural Bank of China (ABC) 10.81
5 China Securities 9.01

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Rank Lead Manager Amount $m No of issues Share %
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1 CITIC Securities 8,165.85 33 9.72%
2 Goldman Sachs 6,894.63 24 8.21%
3 Morgan Stanley 4,815.98 33 5.73%
4 UBS 4,491.81 28 5.35%
5 China International Capital Corp Ltd 4,340.56 23 5.17%

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Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 15,042.14 131 8.44%
2 Citi 10,101.99 81 5.67%
3 JPMorgan 9,703.04 62 5.44%
4 Credit Suisse 6,502.92 50 3.65%
5 Bank of America Merrill Lynch 6,256.12 50 3.51%

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