Inox Green Energy Services trades higher on acquiring majority stake in Resowi Energy
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Inox Green Energy Services is currently trading at Rs. 132.05, up by 2.65 points or 2.05% from its previous closing of Rs. 129.40 on the BSE.
The scrip opened at Rs. 132.00 and has touched a high and low of Rs. 134.30 and Rs. 131.50 respectively. So far 39700 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 149.50 on 04-Jan-2024 and a 52 week low of Rs. 38.50 on 13-Apr-2023.
Last one week high and low of the scrip stood at Rs. 134.90 and Rs. 122.00 respectively. The current market cap of the company is Rs. 3932.85 crore.
The promoters holding in the company stood at 55.72%, while Institutions and Non-Institutions held 12.04% and 32.24% respectively.
Inox Green Energy Services has acquired a majority stake of 51% in the post equity share capital of Resowi Energy. Consequently, Resowi Energy has become a subsidiary of the Company with effective from February 07, 2024.
Resowi Energy is engaged in the business of operations and maintenance of Wind turbine generators (WTGs) and has capabilities to service 2 MW and higher rated WTGs of several OEMs operating in India & Sri Lanka. The acquisition will enhance the Company's expertise to offer its services to a wider customer base.
Inox Green Energy Services is one of the major wind power operations and maintenance (O&M) service providers within India. The Company is engaged in the business of providing long-term O&M services for wind projects.
