Inox Wind Board Approves Over Rs 402 Cr Fundraising Plan

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Inox Wind, a wind energy company, announced Wednesday that its board approved a proposal to raise Rs 42.5 crore via preferential issue equity shares and convertible warrants.

Inox Wind stated in a regulatory filing that its promoters would infuse Rs 150 crore through a preferential issue equity shares.

Samena Green Limited will infuse Rs 1502.5 crore through a preferential issue equity shares and convertible warrants.

Lend Lease Company (India Limited) Limited, another non-promoter entity, will contribute Rs 100 crore via the same route.

According to the filing, “The board also approved conversions of 0.01 percent non-cumulative and participating, redeemable preference share allotted promoter group to compulsorily convert preference shares amounting to Rs 918.35 million.”

Kailash Tarachandani is the CEO of Inox Wind. He stated that this round of infusion was led by promoters and other investors to reflect their trust in the company.

Chetan, the Managing Director of Samena Green Limited, stated, “We are thrilled to be partnering Inox Wind Limited. We believe this sector holds a tremendous potential and Inox Wind Limited has the right position to capitalize it.”

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He said, “Given the global shift to renewables and India playing a leading part towards carbon neutrality,” he stated.

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