Inox Wind Limited receives ~ Rs. 500 Crore raised by Promoter Entities through Equity Share Sale

Inox Wind Limited (IWL), India's leading wind energy solutions provider, today announced the infusion of ~ Rs. 500 Crores (before taxes and other charges) by its promoter and promoter group entities. This strategic move marks a significant milestone in IWL's journey towards financial sustainability. The funds were raised by way of equity share sale of IWL by its promoter and promoter group entities through block deals on the stock exchanges. The funds will be utilized for the repayment of IWL's existing debt.

Mr. Kailash Tarachandani, the CEO of Inox Wind, on this pivotal development, stated, "The recent fundraising initiative led by IWL's promoters and the subsequent capital infusion significantly reinforces our financial strength and empowers us with enhanced flexibility for future growth endeavours. The unwavering commitment, which our long-term investors have shown in IWL, stands as a testament to their trust and confidence in the company."

Shares of Inox Wind Limited was last trading in BSE at Rs. 198.45 as compared to the previous close of Rs. 201.15. The total number of shares traded during the day was 113288 in over 2444 trades.

The stock hit an intraday high of Rs. 205.50 and intraday low of 194.55. The net turnover during the day was Rs. 22630278.00.

Source : Equity Bulls

Keywords

InoxWind INE066P01011 FundInfusion PromoterGroup