Archive · 25 Sep 2026
Inox Green, Wheels India Launch QIPs; Prices, Fundraising Details
Inox Green and Wheels India are trying to raise money by selling new shares to large investors.
This type of share sale is called a qualified institutional placement, or QIP.
Inox Green wants to raise ₹300 crore.
Its starting share price for the sale is ₹174.36, and it may offer a discount of up to 5%.
It plans to sell 1.81 crore shares and may sell more shares if needed.
Wheels India wants to raise ₹250 crore, with a starting price of ₹2,197.10 per share.
Both companies’ shares rose during Friday’s trading session after the announcements.
Inox Green plans to use its money to help pay for an operations and maintenance business through its subsidiary Vibhav Energy.
The articles differ on the opening date, with one saying Thursday, September 24, and another referring to Friday morning.
Inox Green Energy Services and Wheels India launched qualified institutional placements to raise funds from institutional investors.
Inox Green set its QIP floor price at ₹174.36 per share and is targeting ₹300 crore.
Inox Green’s base issue includes 1.81 crore shares, with an option to issue another 60.4 lakh shares.
Wheels India set its QIP floor price at ₹2,197.10 per share and plans to raise ₹250 crore.
Inox Green may offer a discount of up to 5%, with proceeds intended for Vibhav Energy’s part-payment for Wind World (India)’s O&M business.
- Who
- Inox Green Energy Services Ltd and Wheels India Ltd.
- What
- Both companies launched QIPs; Inox Green is seeking ₹300 crore and Wheels India is seeking ₹250 crore.
- When
- The QIPs were reported during Friday’s trading session; one article says Inox Green’s issue opened Thursday, September 24.
- Where
- The companies’ shares were trading on the BSE.
- Why
- Inox Green said it would use the proceeds through Vibhav Energy toward part-payment for acquiring Wind World (India)’s operations and maintenance business.
- Inox Green fundraising target
- ₹300 crore
- Inox Green floor price
- ₹174.36 per share
- Inox Green base offer
- 1.81 crore shares
- Additional Inox Green shares
- Up to 60.4 lakh shares
- Wheels India fundraising target
- ₹250 crore
- Wheels India floor price
- ₹2,197.10 per share
- Discount
- Both companies may offer a discount of up to 5% on their respective floor prices
- Inox Green bookrunner
- Emkay Global
