Inox Wind Limited announced that it expects to receive INR 4 billion in funding from Inox Wind Energy Limited and other investors

Inox Wind Energy Limited announced a private placement to issue 0.01% Non Convertible, Non-Cumulative, Participating, Redeemable Preference Shares to issue 400,000,000 preference shares at an issue price of INR 10 per share for the gross proceeds of INR 4,000,000,000 on August 10, 2023. The transaction has been approved by the general meeting of the shareholders. The transaction will include participation from new investors Inox Wind Energy Limited, Holding and Promoter Company.

The transaction is subject to appropriate sanctions, permissions and approvals including shareholders' approval and statutory and regulatory approvals, as may be required. the shares bear 0.01% dividend and matures 5 years from the date of allotment.