Inox Green Energy Services jumped 5.50% to Rs 181.20 after its board approved raising funds aggregating up to Rs 1,050 crore through a preferential issue.
The company will issue up to 2,89,85,503 equity shares with face value Rs 10 each at an issue price of Rs 138 per equity share aggregating up to Rs 400 crore to non-promoter entities.Further, the firm will issue up to 4,48,27,582 convertible warrants, each carrying a right to subscribe to one equity share with face value Rs 10 at a price of Rs 145 per equity share for each convertible warrant, in one or more tranches within a period of 18 months commencing from the date of allotment of the convertible warrants, aggregating upto Rs 650 crore to both promoter/ promoter group and non promoter entities.
Inox Green Energy Services is one of the major wind power O&M service providers within India with a fleet size of >3 GW. The company is engaged in the business of providing long-term O&M services for wind projects.
The company reported a consolidated net profit of Rs 21.32 crore in Q4 FY24 as against a net loss of Rs 0.57 crore in Q4 FY23. Revenue from operations declined 7.7% YoY to Rs 52.43 crore during the period under review.
The counter has hit an all time high of Rs 184.55 in todays intra-day session.
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