Inox Wind raises over Rs 400 cr by issuing equity shares, convertible warrants

Inox Wind on Friday said it has raised over Rs 400 crore by issuing equity shares and convertible warrants. In a regulatory filing, Inox Wind said it has completed the allotment of equity shares and convertible warrants worth Rs 402.50 crore on June 2, at an issue price of Rs 126 and Rs 132, respectively.

In April, the wind energy firm had informed that its board approved a proposal to raise Rs 402.5 crore through preferential issue of equity shares and convertible warrants.

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Inox Wind is among India’s leading wind energy solutions providers, servicing independent power producers (IPPs), utilities, PSUs and corporate investors. The company has three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh.