INOX Wind Limited (BSE: 539083, NSE: INOXWIND) has announced that its material wholly-owned subsidiary, Resco Global Wind Services Private Limited (RESCO), has approved a significant fund-raising initiative. Key details include:
- RESCO’s Board of Directors approved a proposal to raise funds by issuing equity shares on a preferential basis.
- The fund raise targets approximately Rs 350 Crores.
- Shares will be issued through private placement to non-promoter investors.
- The proposal is subject to RESCO’s shareholders’ approval and compliance with applicable regulations.
This move is expected to strengthen RESCO’s financial position and support its growth initiatives in the wind energy sector. The preferential issue to non-promoter investors may also diversify RESCO’s shareholder base.
Investors and market watchers will be keen to observe how this capital infusion impacts INOX Wind’s consolidated financial position and future growth strategies.
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