Inox Green Energy Services Ltd to acquire majority stake in Resowi Energy Pvt Ltd

Inox Green Energy Services Limited ("the Company") on 22nd September, 2023 had entered into a Share Subscription cum Shareholders' Agreement with Resowi Energy Private Limited (hereinafter referred to as the "Target Company") to subscribe to the fresh Equity Shares of the Target Company on a private placement basis which will result in the Company acquiring majority stake of 51% in the post share capital of the Target Company. The Target Company is engaged in the business of operations and maintenance of Wind turbine generators (WTGs) and has capabilities to service 2 MW and higher rated WTGs of several OEMs operating in India & Sri Lanka. The acquisition will enhance IGESL's expertise to offer its services to a wider customer base.

Shares of Inox Green Energy Services Limited was last trading in BSE at Rs. 65.26 as compared to the previous close of Rs. 65.62. The total number of shares traded during the day was 127126 in over 993 trades.

The stock hit an intraday high of Rs. 66.74 and intraday low of 65.01. The net turnover during the day was Rs. 8366899.00.

Source : Equity Bulls

Keywords

InoxGreenEnergyServices INE510W01014 Utilities ResowiEnergy MajorityStake