Inox Wind completes allotment of preference issue worth Rs402.50 crore; stock climbs ~4%

Inox Wind Limited, India’s leading wind energy solutions provider, has on June 2, 2022, completed the allotment of equity shares at an issue price of Rs126 per equity share inclusive of a premium of Rs116 per equity share.

It also includes Convertible warrants for an issue price of Rs132 per convertible warrant, inclusive of a premium of Rs122, to Promoters and other investors, pursuant to the preferential issue for cash aggregating upto Rs402.50 crore.

Promoters of the company infused Rs150 crore through the preferential issue of equity shares. Samena Green Limited, Non-Promoter- foreign company has subscribed equity shares and convertible warrants aggregating Rs152.50 crore. Lend Lease Company (India) Limited, Non Promoter has subscribed equity shares and convertible warrants aggregating Rs100 crore.

Promoters have also been allotted equity shares aggregating Rs485 crore upon part conversion of 0.0001% Compulsory Convertible Preference Shares which were issued upon variation of the terms of 0.01% Non-Convertible, Non-Cumulative, Participating, Redeemable Preference Shares.

Inox Wind is currently trading at Rs98.30 up by Rs3.8 or 4.02% from its previous closing of Rs94.50 on the BSE. The scrip opened at Rs96.45 and has touched intraday high and low of Rs98.40 and Rs95.40 respectively.

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( With inputs from indiainfoline)