Indowind Energy Limited announced a private placement of 22,500,000 convertible warrants at a price of INR 4.375 for the gross proceeds of INR 98,437,500 on January 8, 2024. The warrants will be convertible into common shares at an exercise price of INR 13.125 per share. The transaction will include participation from new investors, Capri Global Holdings Pvt.

Ltd. for 3,000,000 shares, SWYOM India Alpha Fund for 580,000 shares, Chirag Gupta for 150,000 shares, Sawan Gupta for 100,000 shares, Rachna Shah for 100,000 shares and other investors. The transaction has been approved by the shareholders of the company. The warrants will be issued on preferential basis.

The transaction is subject to the approval of regulatory/ statutory authorities and the shareholders of the company.