Reading Time: 1 minutes
Inox Wind Limited (IWL), India’s leading wind energy solutions provider, announced today the completion of a significant financial milestone with the infusion of approximately Rs. 900 Crores from its promoter, Inox Wind Energy Limited (IWEL). The funds were raised by IWEL , through the sale of equity shares of IWL via block deals on stock exchanges, attracting participation from several marquee investors.
The capital infusion will enable IWL to completely eliminate its external term debt, achieving a net debt-free status.
Kailash Tarachandani, CEO of Inox Wind, commented, “It has been a remarkable journey so far. This fund infusion will help us become a net debt-free company, strengthening our balance sheet and accelerating our growth. We expect substantial savings in interest expenses going forward, further aiding our profitability. With all the building blocks in place, including our execution capabilities, state-of-the-art technological offerings, financial strength, robust order book, and a large order pipeline, we are geared up to embark on a substantial growth journey ahead.”
This strategic move positions Inox Wind for enhanced financial stability and growth, as the company continues to lead in the wind energy sector.
