CO-PRESENTING PARTNERS
LIVE COVERAGE AND VIDEO PARTNERS
PARTNERS
CO-PRESENTING PARTNERS
LIVE COVERAGE AND VIDEO PARTNERS
PARTNERS
The listing performance of Inox Green Energy Services, a company that provides maintenance services to clients in the wind energy space, was disappointing to say the least, feel analysts. They have also advise investors to exit their investments and refrain from buying more.
The stock listed at a discount of about 8 percent to its issue price of Rs 65 per share. As of 10.25 am, it recovered slightly to Rs 61.15 on BSE, still down 6 percent from the issue price.
“The top line for Inox Green has remained quite stable for the last three fiscals but the bottom-line is under pressure due to high leverage in its balance sheet,” said Narendra Solanki, Head- Equity Research, Anand Rathi Shares & Stock Brokers. “In the rising interest rate scenario, we believe profitability will be impacted in the near term and we recommended to those investors who were allotted issues to exit on listing day.”
The initial public offering (IPO) had seen a muted response from investors despite positive trends in the broader market, with the overall offer being subscribed 1.55 times. The success of the IPO was largely because of 4.7 times subscription from retail investors, who are now sitting on losses. The portion of shares reserved for high net-worth individuals was undersubscribed.
Checkout Budget Highlights 2023
