Inox Wind Becomes Net Debt-Free After Rs 900 Crore Infusion

Inox Wind Ltd has become a net debt-free company after its promoter, Inox Wind Energy (IWEL), infused Rs 900 crore into the wind energy solutions provider. The funds, raised through a sale of equity shares, will be used to completely pare down external term debt, boosting profitability and balance sheet strength.

In a significant financial milestone, Inox Wind Ltd has announced that it will become a net debt-free company following an infusion of Rs 900 crore by its promoter, Inox Wind Energy Ltd (IWEL). The announcement was made on Thursday, marking a pivotal moment for the wind energy solutions provider.

According to the company's statement, the substantial fund infusion was completed via the sale of equity shares through block deals on the stock exchanges, a move that saw participation from several marquee investors. This financial boost aims to enhance the company's balance sheet and accelerate its growth by enabling significant savings on interest expenses.

''This fund infusion will help us become a net debt-free company, strengthening our balance sheet and helping accelerate our growth,'' said Kailash Tarachandani, CEO of Inox Wind. The aim is to completely pare down external term debt, thereby achieving a net debt-free status, excluding promoter debt. This strategic shift is expected to have lasting positive impacts on the company's profitability and financial health,'' the company stated.

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