INOXGFL Group wraps up Inox Wind’s equity share sale; Secures Rs 500cr

INOXGFL Group, a dominant conglomerate in India, recently wrapped up the equity share sale of Inox Wind Limited through a block deal on stock exchanges. With an impressive raise of approximately Rs. 500 Crore, the funds are slated for infusion into Inox Wind Limited. The core objective is to utilize these funds for repaying Inox Wind’s standing debt, which is expected to reinforce the company’s balance sheet and bolster its financial health and expansion opportunities.

INOXGFL’s Vision for Inox Wind Limited

Devansh Jain, the Executive Director of INOXGFL Group, shared his thoughts on the achievement, “The remarkable response to our equity share sale is a testament to the unwavering confidence which investors have in our company’s future prospects. These funds will reduce our debt, provide greater financial flexibility, unlock a plethora of new expansion opportunities, and is a significant step in the company’s path towards becoming net-debt free.”

A Bright Future for Renewable Energy

On the future prospects of the renewable energy sector and Inox Wind Limited’s role in it, Devansh Jain added, “The unwavering faith in our renewable business has fueled the promoter group’s steadfast support, even during challenging times. The participation of long-term investors in this fundraise today serves as a powerful endorsement of our business’ immense potential.

“As we enter this new phase, Inox Wind Limited is primed for an exciting journey of growth, underpinned by India’s Renewable Energy Targets, as well as our strong balance sheet, execution capabilities and unwavering promoter backing. All our stakeholders, including bankers, have been resolute in their support throughout our 13-year of operations, and have committed to continue their support in our exciting journey ahead.”