Inox Wind Limited completes allotment of Equity Shares and Convertible Warrants worth Rs. 402.50 Crore

Inox Wind Limited, India's leading wind energy solutions provider, has on 2nd June, 2022 completed the allotment of equity shares at an issue price of Rs. 126/- (Rupees One Hundred and Twenty Six only) per equity share inclusive of a premium of Rs. 116/- per equity share and convertible warrants for an issue price of Rs. 132/- (Rupees One Hundred and Thirty Two only) per convertible warrant, inclusive of a premium of Rs. 122/-, to Promoters and other investors, pursuant to the preferential issue for cash aggregating upto Rs. 402,50,00,000 (Rupees Four Hundred and Two Crore Fifty Lakh only) as per the resolutions passed by the Board of Directors on 20th April, 2022 and the Shareholders of the Company on 13th May, 2022 and upon receipt of all requisite approvals.

- Samena Green Limited, Non Promoter- foreign company has subscribed equity shares and convertible warrants aggregating Rs. 152.50 Crore.

- Lend Lease Company (India) Limited, Non Promoter has subscribed equity shares and convertible warrants aggregating Rs. 100 Crore.

- Promoters have also been allotted equity shares aggregating Rs. 485 Crore upon part conversion of 0.0001% Compulsory Convertible Preference Shares which were issued upon variation of the terms of 0.01% Non-Convertible, Non-Cumulative, Participating, Redeemable Preference Shares.

Further, the Company had allotted 0.01% 91,83,51,137 Compulsory Convertible Preference Shares of Rs. 10/- each ("CCPS") to the "Promoter/ Promoter Group" of the Company viz. Inox Wind Energy Limited and Devansh Trademart LLP upon variation of the terms of Non Convertible Participating Redeemable Preference Shares of face value of Rs. 10/- each. The conversion of CCPS into equity shares shall be at a price of Rs. 126/- (Rupees One Hundred and Twenty Six only) per Equity Share (inclusive of premium of Rs. 116/- for each CCPS) from time to time, in one or more tranches, within a maximum period of 18 (Eighteen) months from the date of allotment of CCPS.

Further, out of the 91,83,51,137 CCPS, the Company has converted 48,50,00,000 CCPS into 3,84,92,062 equity shares of the Company at an issue price of Rs. 126/- (Rupees One Hundred and Twenty Six only) per equity share aggregating to Rs. 485 Crore upon receipt of request from the Promoters.

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 Promoters Investors ConvertibleWarrants EquityShares