Inox Wind Energy Limited raises ~ Rs. 900 Crore through Sale of Equity Shares of Inox Wind Limited

INOXGFL Group, one of India's leading conglomerates, announces the successful conclusion of equity share sale of Inox Wind Limited by its promoter Inox Wind Energy Limited, raising ~ Rs. 900 crores. The transaction was executed via block deals on the stock exchanges and witnessed participation by several marquee institutional investors. Subject to IWL's Board approval and other requisite regulatory approvals, the funds raised are proposed to be infused into Inox Wind Ltd to pare down Inox Wind's debt and augment the working capital needs of the company thereby strengthening its balance sheet further.

Shares of Inox Wind Energy Ltd was last trading in BSE at Rs. 7662.35 as compared to the previous close of Rs. 7297.50. The total number of shares traded during the day was 4962 in over 221 trades.

The stock hit an intraday high of Rs. 7662.35 and intraday low of 7608.00. The net turnover during the day was Rs. 38015977.00.

Source : Equity Bulls

Keywords

INOXGFLGroup InoxWindEnergy FundRaising StakeSale InoxWind