Inox Green and Wheels India launch QIPs to raise capital

Inox Green Energy Services and Wheels India have announced the launch of qualified institutional placement (QIP) issues to raise capital.

Inox Green Energy Services has set a floor price of Rs 174.36 per equity share for its QIP. The company may offer a discount of up to 5 per cent on this price at its discretion. The company aims to raise approximately Rs 300 crore through a base offer of 1.81 crore shares, with an option for an additional 60.4 lakh shares. The proceeds are intended for investment in its subsidiary, Vibhav Energy, to facilitate part-payment for the acquisition of the operations and maintenance business of Wind World (India).

Wheels India has launched a Rs 250 crore QIP with a board-approved floor price of Rs 2,197.10 per share. The company may issue up to 12 lakh shares, with an indicative price set at Rs 2,088. The funds raised from this placement are designated for the repayment or prepayment of certain outstanding borrowings.