Inox Wind Energy Infuses Rs 800 Cr In Inox Wind

Inox Wind, on Monday, said that it has infused Rs 800 crore (before taxes and fees) into the company by its promoter Inox Wind Energy (IWEL).

The funds received will be utilised to repay IWL’s existing debt, said IWEL in a regulatory filing.

In October, IWEL has raised Rs 800 crore through an equity share sale of IWL on the stock exchanges, facilitated via block deals, witnessing the participation of several marquee long-only foreign and domestic investors. 

Kailash Tarachandani, the CEO of Inox Wind, remarked, "The recent round of fundraising by IWL's promoter and the subsequent capital infusion into IWL is another significant step towards our stated objective of becoming a net-debt free company. The ongoing ramp up of our operations, technological upgrade to the globally established 3.3 MW WTGs and our strong financial position will help us embark on a robust growth journey, aided by the macro tailwinds."