Inox Wind Ltd allots securities on preferential basis

The 'IWL Committee of the Board of Directors for Operations' of the Company at its meetings held on 1st June, 2022 and 2nd June, 2022 made the following allotment of securities on preferential issue basis:

- Allotted on 1st June, 2022 - 23,80,952 (Twenty Three Lakh Eighty Thousand Nine Hundred and Fifty Two) fully paid up Equity Shares of the face value of Rs. 10/- (Rupees Ten only) each of the Company ata price of Rs. 126/- (Rupees One Hundred and Twenty Six only) per Equity Share, at a premium of Rs. 116/-(Rupees One Hundred and Sixteen only) per Equity Share to Lend Lease Company (India) Limited (CIN: U65910WB1987PLC041823), Non Promoter, for cash consideration aggregating Rs. 30 Crore.

- Allotted on 1st June, 2022 - 53,03,030 (Fifty Three Lakh Three Thousand and Thirty) warrants convertible into Equity Shares of the face value of Rs. 10/- (Rupees Ten only) each of the Company ("Convertible Warrants") to Lend Lease Company (India) Limited (CIN: U65910WB1987PLC041823), Non Promoter ("Lend Lease") at a price of Rs. 132/- (Rupees One Hundred and Thirty Two only) per Convertible Warrant ("Issue Price"), with a right to Lend Lease to apply for and be allotted 1 (One) Equity Share of face value of Rs.10/- (Rupees Ten only) each of the Company at a premium of Rs. 122/-(Rupees One Hundred and Twenty Two only) per Equity Share for each Convertible Warrant, from time to time, in one or more tranches, anytime on or prior to 15t January, 2023 unless such date been extended by mutual agreement with Lend Lease, upto a period not exceeding 18 (Eighteen) months from the date of allotment of the Convertible Warrants ("Conversion Date"), upon receipt of upfront payment of 25% of total warrant subscription price aggregating to Rs. 17.50 Crore; and

- Allotted on 24 June, 2022 - 1,19,04,761 (One Crore Nineteen Lakh Four Thousand Seven Hundred and Sixty One) fully paid up Equity Shares of the face value of Rs. 10/- (Rupees Ten only) each of the Company at a price of Rs. 126/- (Rupees One Hundred and Twenty Six only) per Equity Share, at a premium of Rs. 116/-(Rupees One Hundred and Sixteen only) per Equity Share to Inox Leasing and Finance Limited (CIN: U65910DL1995PLC397847), an entity forming part of the Promoter Group of the Company, for cash consideration aggregating Rs. 150 Crore.

Post the above allotments, the issued and paid-up equity capital of the Company now stands increased to Rs.277,27,53,060/- (Rupees Two Hundred and Seventy Seven Crore Twenty Seven Lakh Fifty Three Thousand Six Hundred and Sixty only).

Shares of Inox Wind Limited was last trading in BSE at Rs. 90.10 as compared to the previous close of Rs. 88.95. The total number of shares traded during the day was 45594 in over 1188 trades.

The stock hit an intraday high of Rs. 90.60 and intraday low of 88.30. The net turnover during the day was Rs. 4066772.00.

Source : Equity Bulls

Keywords

InoxWind INE066P01011 PreferentialIssue EquityShares ConvertibleWarrants