Inox Green Energy Services’s board of directors has approved a proposal to raise up to Rs 10.50 billion through the issuance of equities and convertible warrants via a preferential issue.
As part of this fundraising plan, the company aims to issue over 28.9 million equity shares at an issue price of Rs 138 each, which includes a premium of Rs 128 per share, totaling up to Rs 40 million to non-promoter entities. Additionally, the company plans to issue over 44.8 million convertible warrants, each carrying the right to subscribe to one equity share with a face value of Rs 10 at a price of Rs 145 per warrant, inclusive of a premium of Rs 135. These warrants will be issued in one or more tranches, aggregating up to Rs 6.50 billion, to both promoter/promoter group and non-promoter entities.