Inox Wind Limited , a prominent player in India's wind energy sector, has announced a significant move to strengthen its financial position through a rights issue. The company's board has approved a capital raise of up to Rs 1,249.33 crore, marking a strategic step in its growth trajectory.

Rights Issue Details

The rights issue, approved by the Board of Directors, involves the issuance of 10,41,10,712 fully paid-up equity shares. These shares will be offered at a price of Rs 120 per share, which includes a premium of Rs 110 over the face value of Rs 10 per share.

Key aspects of the rights issue include:

• Entitlement Ratio: Eligible shareholders will be entitled to 5 new shares for every 78 shares held.
• Record Date: July 29
• Issue Period: August 6 to August 20
• Renunciation Dates:
  • On-market renunciation: Until August 14
  • Off-market renunciation: Until August 19

Impact on Share Structure

The rights issue is set to expand Inox Wind's equity base significantly:

Regulatory Approvals and Process

Inox Wind has secured in-principle approvals from both the National Stock Exchange of India (NSE) and BSE Limited for the rights issue. In line with SEBI regulations, the company has made arrangements with NSDL and CDSL to credit the Rights Entitlements in dematerialized form to eligible shareholders' demat accounts prior to the issue opening date.

Recent Business Development

In a separate announcement, Inox Wind revealed that it has secured a 51 MW order from First Energy Private Limited, a Thermax Group company. This marks their first collaboration and includes the supply of Inox Wind's 3 MW class turbines for a project in Tamil Nadu. The order also encompasses limited EPC services and multi-year operations & maintenance support post-commissioning.

Management Commentary

Sanjeev Agarwal, CEO of Inox Wind Ltd., expressed enthusiasm about the new order, stating, "We are thrilled to commence our relationship with First Energy through this 51 MW order, which we believe will be the first of many as we build on our relationship going ahead."

The rights issue and the new order underscore Inox Wind's commitment to growth and its position as a key player in India's renewable energy sector. As the company moves forward with these initiatives, it aims to contribute significantly to India's energy transition goals while creating value for its shareholders.

Investors and eligible shareholders are advised to refer to the detailed Letter of Offer for complete information on the rights issue terms and conditions.

Inox Wind Limited (INOXWIND), a prominent player in the wind energy sector, is set to take a significant step in its capital raising efforts. The company's board of directors is scheduled to meet on July 23, 2025, to finalize crucial details of its proposed ₹1,250 crore rights issue.

Key Meeting Agenda

The upcoming board meeting will focus on several critical aspects of the rights issue:

• Determining the record date
• Setting the issue price
• Establishing the rights entitlement ratio
• Finalizing other terms and conditions of the issue

This meeting follows the board's earlier decision on July 17, 2025, where they approved raising funds through a rights issue of equity shares for an amount not exceeding ₹1,250 crores.

Regulatory Compliance

INOX Wind has emphasized that the finalization of these details is subject to receiving approvals from the stock exchanges and other requisite regulatory authorities. This approach underscores the company's commitment to regulatory compliance in its fundraising endeavors.

Market Impact

The rights issue, once finalized, could have significant implications for INOX Wind's financial position and growth strategies. Existing shareholders will be particularly interested in the entitlement ratio and issue price, as these factors will determine their participation in this capital raising initiative.

Looking Ahead

As the wind energy sector continues to gain prominence in India's renewable energy landscape, INOX Wind's move to raise substantial capital could potentially strengthen its market position. Investors and industry observers will be keenly watching the outcome of the July 23 board meeting for further insights into the company's financial strategy and growth plans.

The company has requested the stock exchanges to take this information on record, indicating its adherence to transparency and disclosure norms. Shareholders and potential investors are advised to stay tuned for further updates following the board meeting.