Inox Wind board approves fund raising through preferential issue

Inox Wind Limited’s board has approved fund raising aggregating to Rs 4.02 billion through preferential issue of equity shares and convertible warrants to promoters and non-promoters.

As per the regulatory filing, its promoters will infuse Rs 1.50 billionthrough preferential issue of equity shares. Samena Green Limited, a non-promoter foreign company, will infuse Rs 1.52 billionthrough preferential issue of equity shares and convertible warrants. Another non-promoter entity Lend Lease Company (India) Limited will put in Rs 1billionthrough the same route. The board has also approved conversion of 0.01 per cent non-convertible, non-cumulative, participating, redeemable preference shares allotted to promoter group to compulsorily convertible preference shares aggregating to Rs 9.18billion.

GET ACCESS TO OUR ARTICLES

Enter your email address

Share your work e-mail and access a free 3 month digital subscription to Power Line Magazine