Inox Wind Shares Soar 14% After Rs 900 Crore Infusion by Promoter

Shares of Inox Wind surged over 14% after its promoter, Inox Wind Energy, infused Rs 900 crore into the company. This significant investment will help Inox Wind become a net debt-free company, driving growth and profitability. The stock prices showed marked increases on both the NSE and BSE.

Shares of Inox Wind surged more than 14 percent during Thursday morning trade following an infusion of Rs 900 crore by its promoter, Inox Wind Energy.

On the National Stock Exchange (NSE), the company's shares rose 14.45 percent, trading at Rs 163.07 each. Concurrently, on the Bombay Stock Exchange (BSE), Inox Wind's shares zoomed 13.80 percent to Rs 162 per piece.

The infusion by Inox Wind Energy Ltd (IWEL) is expected to render Inox Wind a net debt-free company, significantly enhancing its balance sheet and anticipated profitability. This investment, accumulated on May 28, 2024, through equity share sales, will be utilized to clear the company's existing external term debt, targeting a net debt-free status, exclusive of promoter debt.

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