Inox Wind Energy Limited has got shareholders’ approval to raise up to Rs 900 million through issuance of 1.06 million convertible warrants.
The convertible warrants will be issued at the rate of Rs 847 per unit. As per the proposal, the funds will be raised in one or more tranches, within a period of 18 months from the date of allotment of the warrants, aggregating to up to Rs 900 million on preferential basis. The money will be used for meeting the funding requirements of the company, its subsidiaries’ consolidated business operations and for general corporate purposes.