Inox Wind Limited has been accorded approval by its board to raise funds upto Rs 8 billion.
The funds will be raised by way of issuance of non-convertible non cumulative participating redeemable preference shares (NCPRPS) to promoters on private placement basis. Two groups of promoters, Inox Leasing and Finance Limited, and Inox Wind Energy Limited, will be infusing Rs 6 billion and Rs 2 billion respectively. The funds raised through the issuance of NCPRPS shall be used inter-alia for repayment of the debt.