Wind energy solutions provider, Inox Wind Ltd (IWL), has announced the completion of infusion of ₹800 crore into the company by its promoter Inox Wind Energy Limited (IWEL).
Inox Wind disclosed in its regulatory filing, the funds received will be utilised to repay the company’s existing debt.
The company’s Chief Executive Officer, Kailash Tarachandani, said, “The recent round of fundraising by IWL’s promoter and the subsequent capital infusion into IWL is another significant step towards our stated objective of becoming a net-debt free company. The ongoing ramp up of our operations, technological upgrade to the globally established 3.3 MW WTGs and our strong financial position will help us embark on a robust growth journey, aided by the macro tailwinds.”
Inox Wind stock is trading at ₹318.90 on the NSE, surged 10.77 per cent. Meanwhile, IWEL stock is up by 5.37 per cent on the NSE, trading at ₹4,084.90.