Inox Wind Ltd has greenlit a ₹12.5 billion fundraise via rights issue, marking a pivotal step in its capital strategy to support expansion and deleveraging.
Key Highlights:
- The board has approved raising up to ₹12.5 billion through a rights issue of equity shares.
- Terms such as issue ratio and pricing are yet to be finalized, pending regulatory and shareholder approvals.
Strategic Context:
- The capital infusion will bolster working capital, support manufacturing scale-up, and fund turnkey EPC projects.
- The move aligns with Inox Wind’s broader plan to execute 1.2 GW of green energy projects in FY26 and 2 GW in FY27.
Financial Health:
- The company has significantly improved its balance sheet post-merger with Inox Wind Energy, reducing debt-to-equity to 0.29.
- Promoter group recently infused ₹800 crore to repay outstanding liabilities, reinforcing net-debt-free ambitions.
Sources: Financial Express, TradingView News, Economic Times, Axis Direct, Moneycontrol.