Inox Wind Energy inches up on getting nod to sell wind energy business
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Inox Wind Energy is currently trading at Rs. 1089.25, up by 2.20 points or 0.20% from its previous closing of Rs. 1087.05 on the BSE.
The scrip opened at Rs. 1069.35 and has touched a high and low of Rs. 1091.50 and Rs. 1069.35 respectively. So far 7 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1222.95 on 11-Oct-2022 and a 52 week low of Rs. 442.95 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1125.00 and Rs. 1062.35 respectively. The current market cap of the company is Rs. 1220.41 crore.
The promoters holding in the company stood at 68.72%, while Institutions and Non-Institutions held 7.74% and 23.54% respectively.
Inox Wind Energy has received approval for sale/ transfer its wind energy business, to its holding company, M/s Inox Leasing and Finance (ILFL), by way of slump sale through business transfer agreement to be executed between the Company and ILFL. The lump sum consideration to be received by the Company against slump sale of Wind Energy Business as a going concern, will be around Rs 17 crore subject to customary Closing Date adjustments in accordance with the provisions of the business transfer agreement. The Board of Directors of Inox Wind Energy at their meeting held on March 28, 2023 has approved the same.
Inox Wind Energy is engage in the business of generation and sale of wind energy and providing related services and to make investment in the shares, debentures and other securities of Renewable Energy Business.
