Inox Wind Energy Ltd completes infusion of ~ Rs. 800 Crore into Inox Wind Ltd

Inox Wind Limited (IWL), India's leading wind energy solutions provider, today announced the completion of infusion of ~ Rs. 800 Crores (before taxes and fees) into the company by its promoter Inox Wind Energy Limited (IWEL). This strategic action marks another significant milestone in IWL's journey towards financial sustainability and profitability. On October 31, 2023, IWL's promoter, IWEL, completed the successful fund raise of ~ Rs. 800 Crores through an equity share sale of IWL on the stock exchanges, facilitated via block deals, witnessing participation of several marquee long-only foreign and domestic investors. The funds received will be utilized to repay IWL's existing debt.

Mr. Kailash Tarachandani, the CEO of Inox Wind, remarked, "The recent round of fundraising by IWL's promoter and the subsequent capital infusion into IWL is another significant step towards our stated objective of becoming a net-debt free company. The ongoing ramp up of our operations, technological upgrade to the globally established 3.3 MW WTGs and our strong financial position will help us embark on a robust growth journey, aided by the macro tailwinds."

Shares of Inox Wind Energy Ltd was last trading in BSE at Rs. 3894.65 as compared to the previous close of Rs. 3655.00. The total number of shares traded during the day was 1234 in over 231 trades.

The stock hit an intraday high of Rs. 3900.00 and intraday low of 3684.55. The net turnover during the day was Rs. 4738849.00.

Source : Equity Bulls

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InoxWindEnergy FundInfusion InoxWind