Indowind Energy Limited, a leading independent power producer specializing in windmill operations, has announced its upcoming rights issue for 2024. This article provides comprehensive details about the Indowind Energy Rights Issue 2024, aimed at supporting the company’s growth and expansion plans.
Indowind Energy Rights Issue 2024: Key Details
- Issue Period: July 26, 2024 – August 5, 2024
- Company: Indowind Energy Limited
- Total Shares Offered: 21,466,956
- Total Issue Size: ₹48.30 Crores
- Price per Share: ₹22.5
- Face Value: ₹10 per share
- Listing Venues: BSE and NSE
- Payment Terms: Full payment required at application
Understanding the Entitlement Ratio of Indowind Energy Rights Issue 2024
Shareholders will be offered 1 Rights Equity Share for every 5 fully paid-up Equity Shares held on the Record Date (July 16, 2024).
Entitlement Ratio Example
If you own 1000 shares on July 15, 2024 (last date to buy shares), you’re eligible to purchase 200 shares in the Rights Issue at ₹22.5 per share.
Important Dates for Indowind Energy Rights Issue 2024
- Last Share Purchase Date: July 15, 2024
- Record Date: July 16, 2024
- Rights Entitlements Renunciation Deadline: July 31, 2024
- Issue Opening: July 26, 2024
- Issue Closing: August 5, 2024
Utilization of Funds
Indowind Energy plans to use the net proceeds to fund its growth and expansion initiatives. Specific details are not provided in the available information.
How to Apply for Indowind Energy Rights Issue 2024
Eligible shareholders can apply through two methods:
- Net Banking (ASBA): Subject to availability with the shareholder’s bank
- Registrar’s Website (R-WAP): Alternative option if net banking (ASBA) is unavailable
Conclusion
The Indowind Energy Rights Issue 2024 presents an opportunity for existing shareholders to further invest in the company’s growth. Interested investors should carefully review the offer details and consult with financial advisors before making investment decisions.
