Inox Wind Limited recently received a Rs 900 crore infusion from its promoter, company is subsidiary of InoxGFL Group. This significant investment will enable InoxWind to become a net debt-free company, excluding promoter debt.
The funds will be used to completely pay off Inox Wind’s external term debt. Becoming debt-free is expected to strengthen the balance sheet, reduce interest expenses, and accelerate growth.
After this announcement, Inox Wind share price surged by over 12.69% in the stock market.
- NSE: INOXWIND Share Price at 160.56 INR
- With significant up of +18.08 (12.69%) today at 11:57 AM
The Rs 900 crore infusion was raised through the sale of equity shares of NSE: INOXWIND through block deals on the stock exchanges. Several marquee investors participated in this fundraising.
Inox Wind Limited is an Indian wind energy service provider headquartered in Noida, India. It is a subsidiary of the INOX GFL Group. The company is involved in the manufacturing and supply of wind turbine generators (WTGs) and also provides related services such as wind farm development, erection, procurement, commissioning (EPC), operations, and maintenance (O&M).
The Company is committed to providing sustainable energy solutions and contributing to India’s renewable energy goals.
Overall, this significant investment marks a positive development for InoxWind and is expected to contribute to its future growth and success in the renewable energy sector.