Noida : Inox Wind Limited (IWL), India’s leading wind energy solutions provider, on Thursday announced the infusion of Rs. 500 Crores (before taxes and other charges) by its promoter and promoter group entities. This strategic move marks a significant milestone in IWL’s journey towards financial sustainability. The funds were raised by way of equity share sale of IWL by its promoter and promoter group entities through block deals on the stock exchanges. The funds will be utilized for the repayment of IWL’s existing debt.
Kailash Tarachandani, the CEO of Inox Wind, on this pivotal development, stated, “The recent fundraising initiative led by IWL’s promoters and the subsequent capital infusion significantly reinforces our financial strength and empowers us with enhanced flexibility for future growth endeavours. The unwavering commitment, which our long-term investors have shown in IWL, stands as a testament to their trust and confidence in the company.”