Debt-free Company

Inox Wind Ltd on Thursday said its promoter Inox Wind Energy (IWEL) has infused Rs 900 crore into the company, following which the wind energy solutions provider will become a net debt-free company. In a statement Inox Wind Ltd (IWL) on Thursday announced the completion of infusion of Rs 900 crore into the company by its promoter Inox Wind Energy Ltd (IWEL). "This fund infusion will help us become a net debt-free company, strengthening our balance sheet and help accelerate our growth. We expect substantial savings in interest expenses going ahead, aiding our profitability further," Kailash Tarachandani, CEO of Inox Wind said. The funds were raised by the IWEL on May 28, 2024, through sale of equity shares of IWL through block deals on the stock exchanges, witnessing participation of several marquee investors, as per the company statement. The funds will be utilised by Inox Wind Ltd to completely pare down its external term debt to achieve a net debt-free status, it added. Net Debt

The second-largest private sector port operator JSW Ports, which has completed capacity expansion at an investment of Rs 4,000-crore, eyes to be a net-debt-free company over the next two-three years having already pared Rs 862 crore so far this fiscal. The company financed the repayments of higher-cost rupee loans from a consortium of lenders, which were priced at 9.5 per cent, partly with internal accruals and the rest from the USD 400-million overseas bond issuance in February this year, Lalit Singhvi, the chief financial officer and a director at JSW Infrastructure, the fully-owned arm of the Sajjan Jindal-run JSW Group and the holding company of the ports business, told PTI on Friday. After paying back Rs 862 crore of debt, he said, the company will have on its book a net debt of Rs 2,700 crore and gross debt of Rs 4,200 crore. With this JSW Ports has already repaid over Rs 2,800 crore in the past few years. The rupee debt was from a consortium of banks comprising Axis Bank, ...

Diversified group Raymond aims to be a net debt-free company in the next three years and is focused on liquidity management through cost reduction initiatives and working capital optimisation

Realty firm Macrotech Developers is targeting to bring down its net debt to zero over the next three years from the current borrowing level of around Rs 16,000 crore

Despite such heavy weightage in overall corporate worth, these companies account for just a quarter of revenues and assets