Inox Wind approves USD-53m fundraising via share, warrant sale

Photo by: Inox Wind (www.inoxwind.com).

April 20 (Renewables Now) - The board of Indian wind turbine manufacturer Inox Wind Ltd (BOM:539083) today approved a proposal to raise up to INR 4.025 billion (USD 52.7m/EUR 48.7m) through a preferential issue of equity shares and convertible warrants.

The company will get INR 1.5 billion from Inox Leasing and Finance Ltd, which is part of its promoter group, and the rest from two non-promoters – Samena Green Ltd and Land Lease Co (India) Ltd.

Inox Wind’s CEO Kailash Tarachandani commented that this funding will help the company accelerate its growth.

The firm operates 1,600 MW of annual wind turbine manufacturing capacity across three sites in Gujarat, Himachal Pradesh and Madhya Pradesh.

(INR 10 = USD 0.131/EUR 0.121)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\