Inox Wind Limited (IWL) has received a ₹900-crore capital infusion from its promoter, Inox Wind Energy Limited (IWEL).
The funds were raised through the sale of IWL’s equity shares in block deals on stock exchanges, attracting participation from several high-profile investors.
According to a filing with the Bombay Stock Exchange (BSE), IWEL finalized the capital infusion on July 4, marking a significant step toward achieving a debt-free status for IWL. The proceeds will be used to retire the company’s external term debt, enhancing its financial position and accelerating growth prospects.
CEO Kailash Tarachandani expressed optimism about the company’s future. “This fund infusion will strengthen our balance sheet and position us as a net debt-free entity. We anticipate substantial reductions in interest expenses, which will bolster profitability moving forward.” He highlighted Inox Wind’s readiness for substantial growth, citing its robust order book, extensive manufacturing capabilities in Gujarat, Himachal Pradesh, and Madhya Pradesh, and advanced technological offerings.
Inox Wind operates four manufacturing facilities capable of producing blades, tubular towers, hubs, and nacelles, with an annual capacity of approximately 2.5 GW under its MW series WTG offering. The company’s subsidiary, Inox Green Energy Services Ltd, is India’s sole listed wind operations and maintenance (O&M) services provider, managing a portfolio exceeding 3.2 GW.
