Inox Wind trades jubilantly on getting nod to raise Rs 800 crore via NCPRPS
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Inox Wind is currently trading at Rs. 120.35, up by 8.85 points or 7.94% from its previous closing of Rs. 111.50 on the BSE.
The scrip opened at Rs. 113.35 and has touched a high and low of Rs. 121.60 and Rs. 112.25 respectively. So far 123482 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 154.15 on 06-Dec-2021 and a 52 week low of Rs. 75.40 on 01-Jul-2022.
Last one week high and low of the scrip stood at Rs. 121.60 and Rs. 104.50 respectively. The current market cap of the company is Rs. 3346.71 crore.
The promoters holding in the company stood at 72.24%, while Institutions and Non-Institutions held 2.21% and 25.55% respectively.
Inox Wind has received approval from its board to raise funds upto Rs 800 crore by way of issuance of 0.01% Non-Convertible Non-Cumulative Participating Redeemable Preference Shares (NCPRPS) of face value of Rs 10 each of the company, fully paid up, at par, for cash consideration, on private placement basis, in accordance with the applicable laws and subject to appropriate sanctions, permissions and approvals including shareholders’ approval and statutory and regulatory approvals, as may be required, to ‘Promoter/ Promoter Group’ entities viz. Inox Leasing and Finance, Promoter Group entity, of upto Rs 600 crores and Inox Wind Energy, Promoter Company, of upto Rs 200 crore. The funds raised through the issuance of NCPRPS shall be used inter-alia for repayment of the debt.
Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate Investors.
