Page 3 - Inox Wind

Inox Wind Energy, Inox Wind surge up to 11% on heavy volumes

Ministry of Power on Monday announced a complete waiver of the inter-state transmission system (ISTS) charges on the off-shore wind, green hydrogen, and green ammonia projects for 25 years.

Inox Wind consolidated net loss widens to Rs 287.86 cr in December quarter

Inox Wind on Friday reported widening of consolidated net loss to Rs 287.86 crore in the December quarter, due to higher expenses. Its consolidated net loss was Rs 63.95 crore in the quarter ended on December 31, 2021, according to a regulatory filing. Total expenses increased to Rs 522.31 crore in the October-December quarter from Rs 283.65 crore in the year-ago period. Total income of the company rose to Rs 229.07 crore in the quarter from Rs 185.91 crore in the corresponding period a year ago.

Inox Wind, Inox Green Energy Services reduce debt by Rs 411 crore

Wind energy solutions provider Inox Wind on Tuesday said the company and its arm Inox Green Energy Services have paid debts of Rs 411 crore. Inox Wind Ltd and its subsidiary Inox Green Energy Services Ltd, 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, an exchange filing said. Consequently, the corporate guarantees given by Gujarat Fluorochemicals Ltd have also got reduced to that extent. Both the companies are in the process of further reducing their debt in due course, it added. Inox Wind Ltd is India's leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. Inox Wind is a fully integrated player in the wind energy market with three stateof-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh. Inox Wind's manufacturing capacity stands at 1,600 MW per annum. Inox Green Energy

Stocks to Watch: Hero MotoCorp, Castrol, Tata Consumer, HFCL, Bikaji Foods

Stocks to Watch Today: Bikaji Foods, Castrol, Hero MotoCorp, Godrej Properties, Tat Consumer, pharma and insurance related shares are likely to be in focus on Monday.

Inox Green Energy makes dismal debut; lists at 8% discount over issue price

Post listing, the stock hit a low of Rs 59.55 on the NSE and BSE. At 10:02 am; it was trading at Rs 61.60, down 5 per cent against its issue price

A day before IPO, Inox Green mobilises Rs 333 crore from anchor investors

Inox Green Energy Services, a subsidiary of Inox Wind, has collected Rs 333 crore from anchor investors. The funds were raised a day before its initial share-sale that opened for public subscription on Friday. The issue will conclude on November 15. The company has decided to allocate 5.12 crore shares to anchor investors at Rs 65 apiece aggregating the transaction size to Rs 333 crore, according to a circular uploaded on the BSE website late night on Thursday. Morgan Stanley Asia (Singapore) Pte, Nomura Singapore Ltd, Citigroup Global Markets Mauritius Private Limited, HDFC Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF are among the anchor investors. The Rs 740-crore initial public offering (IPO) of Inox Green comprises a fresh issue and an offer for sale of Rs 370 crore each. The company has fixed a price band of Rs 61-65 per share for its IPO. Proceeds from the fresh issue will be used for payment of debt and general corporate purposes. Inox Green is engaged

Inox Green IPO to open on Nov 11, sets price band at Rs 61-65 per share

Inox Green Energy Services, a subsidiary of Inox Wind, has fixed a price band of Rs 61-65 per share for its Rs 740-crore initial public offering (IPO). The initial share-sale will open for public subscription on November 11 and conclude on November 15, and the bidding for anchor investors will open on November 10, the company said in a BSE filing. As per the draft papers, the IPO comprises fresh issuance of equity shares worth Rs 370 crore and an offer-for-sale of shares aggregating to Rs 370 crore by promoter Inox Wind. Besides, the company may consider a pre-IPO placement. If such a placement is completed, the fresh issue size will be reduced. Inox Green Energy Services, which had filed draft IPO papers with Sebi on June 20, obtained the observation letter from the regulator on September 13. The issuance of an observation letter by Sebi implies its go-ahead to float an IPO. Going by the draft papers, proceeds from the fresh issue will be used for payment of debt and general ...

Stock of this wind turbine generator company has zoomed 101% in six weeks

Shares of Inox Wind Energy hit a record high of Rs 1,010, up 5 per cent on the BSE in Tuesday's intra-day trade

Inox Green Energy plans to launch Rs 740-cr IPO in next 30-45 days: CEO

Inox Green Energy Services, a subsidiary of Inox Wind, is planning to come out with its Initial Public Offering (IPO) by October this year to raise Rs 740 crore to fund its expansion plans. The company will focus on the Indian market initially and plans to tap the overseas market after establishing itself in this country, Inox Wind Chief Executive Officer (CEO) Kailash Lal Tarachandani told PTI. Speaking to reporters during a visit to its plant in Rajmol, Gujarat, Tarachandani said the company is planning to launch its IPO "in the next 30 to 45 days". This is Inox Green Energy Services' second attempt to go public. In February, the company had filed the Draft Red Herring Prospectus (DRHP) for its proposed IPO with the markets regulator Sebi. However, the draft offer documents for the IPO were withdrawn in late April without disclosing any reason. According to the latest DRHP filed on June 17, the Rs 740-crore IPO will comprise of fresh issuance of equity shares worth Rs 370 crore

Inox Wind to become debt-free after Rs 740-crore IPO offering: Report

Wind energy solutions provider Inox Wind will become a debt-free company after its Rs 740-crore initial share, which is awaiting Sebi nod, is over and fund infusion by promoters, according to its regulatory filing. According to the Draft Red Herring Prospectus (DRHP) filed with the market regulator, as of June 2022, the company had a gross debt of Rs 1,717.8 crore and cash balance of Rs 222 crore, and a net debt of Rs 1,494.8 crore on its books. Last week, the company said its promoters had agreed to infuse up to Rs 800 crore by subscribing to non-convertible, non-cumulative participating redeemable preference shares on a private placement basis. The fund will be infused by two promoter group entities -- Inox Leasing & Finance which will pump in up to Rs 600 crore, and Inox Wind Energy that will infuse up to Rs 200 crore. The entire money thus raised will be used to retire debt, a statement from the company said on August 30. According to the DRHP, the entire proceeds from the IPO

Promoters to infuse Rs 800 cr into Inox Wind by subscribing debt

The promoters of the leading wind energy solutions provider Inox Wind will be infusing around Rs 800 crore by subscribing to debt as part of deleveraging. The debt placement with promoters will be carried out on a private placement basis, the company said in a statement on Tuesday. The debt issuance will be carried out by two promoter group entities -- Inox Leasing & Finance up to Rs 600 crore and Inox Wind Energy up to Rs 200 crore -- it added. The board has approved fundraising of up to Rs 800 crore by issuing non-convertible non-cumulative participating redeemable preference shares (NCPRPS) of the face value of Rs 10 each, which constitutes 0.01 per cent of the fully paid-up capital on a private placement basis to the promoters. The funds raised from the promoters will be used for repayment of high-cost existing debt, Devansh Jain, executive director at the company said, adding the company aims to become a net debt zero company in the near future. Inox Wind services IPPs, ...

Inox Green Energy files fresh draft papers with Sebi for Rs 740-cr IPO

Inox Green Energy Services, a subsidiary of Inox Wind, has filed fresh preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an Initial Public Offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 370 crore and an offer-for-sale of equity stocks aggregating to Rs 370 crore by promoter Inox Wind, according to the Draft Red Herring Prospectus (DRHP) filed on Friday. Besides, the company may consider a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue will be used for payment of debt and general corporate purposes. Inox Green Energy Services is engaged in the business of providing long term Operation and Maintenance (O&M) services for wind farm projects, specifically for Wind Turbine Generators (WTGs) and the common infrastructure facilities on the wind farm, which support the evacuation of power from such WTGs. Earlier, the company had filed the DRHP for its ...

Inox Wind Q4 net loss widens to Rs 256 crore due to lower revenues

Inox Wind has reported widening of its consolidated net loss to Rs 255.76 crore for the March quarter, mainly due to lower revenues.

Inox Wind falls 7% after board approves fund raise via preferential issue

The board approved fund raise of Rs 402 crore through preferential issue of equity shares and convertible warrants to promoter and non-promoters.

Inox Wind net loss widens to Rs 63.95 cr in December quarter

Total income dipped to Rs 185.91 crore in the quarter from Rs 209.44 crore in the same period a year ago

Inox Wind Energy gets shareholders' nod to raise up to Rs 90 crore

Inox Wind Energy on Tuesday said it has got shareholders' approval to raise up to Rs 90 crore through issuance of 10.62 lakh convertible warrants. The approval was received at its Extraordinary General Meeting (EGM) on Tuesday. The convertible warrants will be issued at the rate of Rs 847 per unit, as per the notice for the EGM. The money will be used for meeting the funding requirements of the company, its subsidiaries' consolidated business operations and for general corporate purposes. On December 27, 2021, the company's board had approved a proposal to this effect. As per the proposal, the funds will be raised in one or more tranches, within a period of 18 months from the date of allotment of the warrants, aggregating to up to Rs 90 crore on preferential basis. According to the EGM notice, it was proposed to issue 8,26,446 warrants worth up to Rs 70 crore to Devansh Trademart LLP, part of the company's promoter group. Besides, the company will issue 2,36,128 warrants worth u

Inox Wind to offer shares worth Rs 400 cr under its arm IGESL's IPO

On December 6, 2021, IGESL board approved fund raising through an initial public offer comprising fresh issue of equity shares

Stocks to Watch: Medplus, Tata Motors, Tata Steel, GE Ship, Inox Wind, HFCL

The Grey Market Premium (GMP) indicates a likely listing gain of 15-20 per cent for Medplus Health Services

Inox Green Energy Services to raise Rs 500 cr through IPO

Inox Wind on Monday said the board of its arm Inox Green Energy Services Ltd has approved fund raising of Rs 500 crore through an initial public offering of its equity shares

Inox Group reaches settlement over division of business; stocks rise

Share prices of Inox Wind and Inox Leisure are up 130 and 56 per cent since January 1.