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Inox Wind Energy Injects INR 800 Cr to Alleviate Debt Burden in Subsidiary

This development comes after Inox Wind Energy Ltd. successfully raised INR 800 crore through the sale of equity shares of Inox Wind in a block deal.

December 05, 2023. By Abha Rustagi

In a strategic move to bolster its financial position and reduce debt, Inox Wind Energy Ltd announced that it has infused INR 800 crore into its subsidiary, Inox Wind Limited. The capital injection aims to alleviate a significant portion of Inox Wind Limited's outstanding debt.

This development comes after Inox Wind Energy Ltd. successfully raised INR 800 crore through the sale of equity shares of Inox Wind in a block deal. In a regulatory filing, the company stated, "Inox Wind Energy Limited completes infusion of Rs 800 crore into Inox Wind Ltd. The funds received will be utilized to repay Inox Wind’s existing debt."

Kailash Tarachandani, the CEO of Inox Wind, expressed that the recent round of fundraising, coupled with the capital infusion by the company, marks a crucial milestone in their journey towards achieving a net-debt-free status. The move underscores the commitment to strengthening the financial health of Inox Wind Limited.

Inox Wind Energy Ltd is part of the INOXGFL Group, a diversified conglomerate operating in two key segments: chemicals and renewable energy.

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