Inox Wind shares surge 14%, promoter invests Rs 900 crore to debt-free company

Inox Wind shares surge 14%, promoter invests Rs 900 crore to debt-free company

Inox Wind Stock Price (Symbolic Photo)


New Delhi:

Shares of wind energy service provider company Inox Wind rose more than 14 percent in morning trading today, July 4. Promoter Inox Wind Energy invested Rs. Shares of Inox Wind Ltd have surged after announcing an investment of Rs 900 crore.

On the National Stock Exchange (NSE), the stock rose 14.45 percent to Rs. 163.07 per share. On the BSE, it rose 13.80 percent to Rs. 162 per share.

Inox Wind Energy Ltd., the promoter of Inox Wind Ltd. (IWEL) has invested Rs. 900 crore has been invested. After this, the wind energy service provider company will become a completely net debt free company.

Inox Wind Energy has invested Rs. 900 crore investment has been announced

Inox Wind Limited in a statement on Thursday through its promoter Inox Wind Energy Limited has invested Rs. 900 crore investment was announced. Inox Wind CEO Kailash Tarachandani said, “This fund investment will give us a net profit of Rs. Being a debt-free company, we expect to strengthen our balance sheet and accelerate growth, which will result in significant savings in interest expenses in the future, which will add to our profitability. will increase.’

According to the company, the proceeds will be used by Inox Wind Limited to fully reduce its external debt, so as to achieve a net debt-free position, “The promoter will be in a net debt-free position,” Inox Wind said. Loan not included.



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