Inox Wind and its' subsidiary Inox Green Energy Services (IGESL), as part of the strategic initiative to deleverage their respective Balance Sheets, have recently paid Rs. 250 crore and Rs. 161 crore
(aggregating to Rs. 411 crore) towards reducing their debt.
Consequently, the Corporate Guarantees given by Gujarat Fluorochemicals, have also got reduced to that extent. Both the companies are in the process of further reducing their debt in due course. Inox GFL Group's stated near term goal is to deleverage all its operating entities and this repayment is a significant step towards achieving this goal.
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