Indowind Energy Limited has announced significant progress in capital deployment and project execution, marking key milestones in the company's strategic development. The Chennai-based renewable energy company has utilized rights issue proceeds to strengthen its balance sheet while advancing operational projects, positioning itself for sustainable growth in the renewable energy sector.

Capital Deployment and Debt Reduction

The company has strategically deployed capital from its rights issue proceeds to address legacy liabilities and strengthen its financial position:

These repayments have resulted in a meaningful reduction in outstanding liabilities, with lower debt levels expected to reduce finance costs and support improved profitability. The balance sheet reset creates headroom for growth funding, enabling the company to evaluate and undertake new projects aimed at improving turnover and long-term earnings.

Solar Project Execution Progress

On the operational front, Indowind Energy has commenced implementation of finalized contracts for its 4 MW solar power project, marking the transition from planning to execution phase. This development lays the foundation for future revenue generation and demonstrates the company's commitment to expanding its renewable energy portfolio beyond wind power.

Previous Wind Power Acquisition

The company had earlier entered into an in-principle agreement to acquire an operational 5.1 MW wind power project for approximately ₹200.00-250.00 crores. The acquisition includes plans for future repowering and hybrid solar project implementation, subject to feasibility evaluation and regulatory approvals.

Management Commentary

Commenting on the recent developments, Mr. Bala Venckat Kutti, Promoter of Indowind Energy Limited, emphasized the company's strategic focus: "Our immediate focus has been on putting the Company on a stronger financial footing while preparing for the next phase of growth. The steps taken over the past few months are expected to improve cost efficiency and provide greater flexibility as we move ahead with project execution. With work now underway on the solar project, we remain focused on steady progress and building a platform for sustainable performance."

Company Profile and Financial Foundation

Indowind Energy Limited, incorporated in 1995, operates as an Independent Power Producer in the renewable energy field with over 30 years of proven capabilities. The company recently completed its rights issue, successfully raising ₹49.42 crores, which has provided the necessary financial foundation for pursuing growth opportunities and strategic acquisitions in the renewable energy sector.

With legacy liabilities addressed and operational projects advancing, the company remains focused on disciplined capital deployment and timely execution, leveraging its strengthened balance sheet to pursue growth opportunities in the renewable energy segment.

Indowind Energy Limited has successfully completed its rights issue, raising Rs 49.43 crore with an oversubscription of 1.04 times. The company has received final approvals from both NSE and BSE, with trading in the rights issue shares commencing December 22, 2025.

Rights Issue Performance

The rights issue demonstrated healthy investor interest, as reflected in the subscription details:

Final Exchange Approvals and Trading Commencement

The company has received final approvals from both major stock exchanges with trading set to begin:

Capital Structure Impact

The successful allotment has significantly enhanced the company's capital base:

Fund Utilization

The company has outlined specific purposes for the funds raised through the rights issue:

• Solar Power Development: Investment for developing a 4MW Solar Power Project in Karnataka
• Debt Repayment: Repayment of secured and unsecured loans from corporate promoters including Loyalcredit Investments Limited and Indus Finance Limited
• General Corporate Purposes: Supporting overall business operations and growth initiatives

Trading Implementation

Both exchanges have confirmed that the rights issue shares are now listed and admitted to dealings. The NSE has specified the symbol "INDOWIND" with series "EQ" for trading the equity shares. All further submissions under SEBI LODR Regulations will be processed through the NSE Electronic Application Processing System (NEAPS).

This successful rights issue completion and final exchange approvals strengthen Indowind Energy's capital base and position the company for its planned solar power expansion while addressing debt obligations. The oversubscription and smooth approval process indicate investor confidence in the company's renewable energy focus and growth strategy.