India's Inox Wind sets IPO terms

The wind energy supplier is the latest Indian company to seek to tap equity capital markets. Indian ECM issuance so far this year is double Hong Kong’s.

Inox Wind, an Indian wind energy company, has set the terms for an initial public offering of shares that could net the company and its principle shareholder more than Rs10 billion $163 million.

The wind-turbine manufacturer wants to sell some 22 million primary shares and 10 million secondary shares at an indicative price range of Rs315 to Rs325 per share, according to a term sheet seen by FinanceAsia.

The secondary offering could net shareholder Gujarat Fluorochemicals, a chlorofluorocarbon refrigerant gas manufacturer, between $50 and $52 million, a source close to the deal said.

Inox Wind, a unit of India’s Inox Group,...

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