The Board of Directors of Inox Wind Ltd's material subsidiary, Inox Green Energy Services Limited (Earlier known as Inox Wind Infrastructure Services Limited) ('IGESL') in their meeting held today i.e. 6 December, 2021 has approved fund raising, subject to receipt of requisite approvals including approval of the shareholders, market conditions and other considerations, by way of an initial public offer of its Equity Shares comprising of fresh issue of Equity Shares aggregating upto Rs. 500 Crore ('Fresh Issue') and/ or an offer of sale of Equity Shares by certain existing and eligible shareholders of the company, in accordance with the Companies Act, 2013 and the rules made thereunder ("Companies Act"), the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations") and other applicable laws (the "Offer").
The Company, as a shareholder, shall consider and finalize its participation in the aforesaid proposed Offer of IGESL and the terms and conditions of such participation and the matters incidental thereto.
Shares of Inox Wind Limited was last trading in BSE at Rs. 137.70 as compared to the previous close of Rs. 146.30. The total number of shares traded during the day was 351284 in over 6926 trades.
The stock hit an intraday high of Rs. 154.15 and intraday low of 135.95. The net turnover during the day was Rs. 51534958.00.