Indowind Energy Announces Rs 49 Crore Rights Issue

Indowind Energy Ltd's board has approved a proposal to raise Rs 49 crore through a rights issue. They will offer 2,14,66,956 equity shares at Rs 22.5 per share, with a record date of July 16, 2024. The draft letter was approved on March 29, 2024.

Indowind Energy Ltd on Wednesday announced that its board has approved a rights issue to raise Rs 49 crore.

The company will issue 2,14,66,956 equity shares, as per an exchange filing.

During the Board of Directors meeting on Monday, the rights issue was authorized for up to Rs 4,900 Lakhs to eligible equity shareholders. The draft letter was approved on March 29, 2024.

The rights issue price is set at Rs 22.5 per equity share, including a premium of Rs 12.50 per share, with a record date of July 16, 2024.

(With inputs from agencies.)