Inox Green Energy shares drop over 5% after fundraising announcement

Inox Green Energy shares fell over 5% in early trade on June 24 after the company’s board announced plans to consider raising funds. The board meeting is scheduled for Wednesday, June 26, to discuss the proposal.

Reports suggest the company might raise up to ₹1,000 crore through preferential allotment and warrant issuance to fund future acquisitions.


Inox Green Energy’s recent financial performance showed a revenue decline of 7.8% for the January to March quarter compared to the same period last year. However, the company reported a net profit of ₹20.3 crore, a significant improvement from the net loss of ₹1.8 crore the previous year. EBITDA fell by 20.7% year-on-year to ₹11.5 crore, with the margin dropping from 25.5% to 21.9%.

As of 1:10 PM the shares were trading 2.92% lower at ₹166.05 on NSE.