Inox Leasing and Finance Limited agreed to acquire Wind energy business of Inox Wind Energy for INR 170 million.

Inox Leasing and Finance Limited agreed to acquire Wind energy business of Inox Wind Energy for INR 170 million on March 28, 2023. Inox Leasing and Finance Limited will enter into Business Transfer Agreement for sale of Wind Energy Business. wind energy business reported revenues of INR 25.8 million and Total Common equity of INR 393.9 million in March 31, 2022.

The transaction is expected to complete on March 31, 2023. As of June 12, 2023, Board has considered and approved the Scheme of Arrangement.