Inox Wind Raises Rs 900cr Through Sale of Equity Shares

Inox Wind To Scale Up Executions With A New 'Net Cash Positive' Tag

INOXGFL Group, one of India’s leading conglomerates today announced the successful conclusion of equity share sale of Inox Wind Limited by its promoter Inox Wind Energy Limited, raising around 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.

The INOXGFL Group, is among the key  conglomerates with a legacy of over 90 years. It operated across two key verticals – Chemicals Business and Renewable Energy Business. It comprising four listed entities – Gujarat Fluorochemicals Limited (GFL), Inox Wind Limited, Inox Green Energy Services Limited, and Inox Wind Energy Limited. The group is commanding a market capitalization of ~ US$ 8 bn.