Inox Wind witnessed a significant surge of over 13% in its share price on July 4, following the announcement of a substantial Rs 900 crore capital infusion from its promoter, Inox Wind Energy Limited (IWEL). This capital injection was achieved through the sale of equity shares in block deals on stock exchanges, attracting participation from several prominent investors.
According to a regulatory filing, Inox Wind finalized this capital infusion on July 4, marking a crucial step towards achieving a debt-free status for the company. The funds raised will primarily be used to reduce external term debt, thereby bolstering Inox Wind’s financial position and accelerating its growth prospects.
CEO Kailash Tarachandani expressed optimism about the company’s future following the infusion, emphasizing that it will strengthen their balance sheet and position them as a net debt-free entity. He anticipates significant reductions in interest expenses, which are expected to enhance profitability moving forward.
Inox Wind is a fully integrated player in the wind energy sector, operating four manufacturing facilities across Gujarat, Himachal Pradesh, and Madhya Pradesh. These facilities produce blades, tubular towers, hubs, and nacelles with an annual capacity of approximately 2.5 GW under its MW series WTG offering.
Tarachandani highlighted Inox Wind’s readiness for substantial growth, citing its robust order book and advanced technological capabilities. The company’s subsidiary, Inox Green Energy Services Ltd, is India’s only listed wind operations and maintenance (O&M) services provider, managing a portfolio exceeding 3.2 GW.
As of 10:15 am, Inox Wind shares were trading 13% higher at Rs 161.50 on the National Stock Exchange (NSE). Year-to-date, the stock has surged over 23%, outperforming the benchmark Nifty’s returns of around 12% during the same period.
