Inox Green Energy to Raise Rs 1,050 Crore via Equities and Convertible Warrants

Inox Green Energy Services announced on Wednesday that its board has approved a plan to raise Rs 1,050 crore through issuing equities and convertible warrants. This initiative will involve a preferential issue of equity shares and convertible warrants to promoter and non-promoter entities.

Inox Green Energy Services announced on Wednesday that it plans to raise Rs 1,050 crore through the issuance of equities and convertible warrants. The board of directors approved this decision during their latest meeting.

In an official exchange filing, the company detailed its plan to issue 2.89 crore equity shares at an issue price of Rs 138 per share, which includes a premium of Rs 128. This move aims to collect Rs 400 crore from non-promoter entities.

Additionally, the company will issue 4.48 crore convertible warrants, each priced at Rs 145, combining a Rs 135 premium, to both promoter and non-promoter entities in multiple tranches, totaling up to Rs 650 crore. As an INOX GFL Group company, Inox Green Energy Services specializes in operation and maintenance services for wind turbine generators. On Wednesday, the company's share price surged by 5.09% to close at Rs 180.50 on the BSE.