Inox Wind Ltd.'s board of directors approved on Thursday a proposal to raise up to Rs 1,250 crore through issuance of equity shares via a rights issue.
"We wish to inform you that the board of directors of the company, at its meeting held today i.e. 17th July, 2025, has, inter-alia, considered and approved funds raising through the issuance of equity shares of face value Rs. 10/- each by way of rights issue for an amount not exceeding Rs 1,250 crore," the wind energy solutions provider said in an exchange filing.
The fundraising is subject to further approvals as required in accordance with the Companies Act and SEBI regulations.
"For the purposes of giving effect to the rights issue, the detailed terms to the rights issue including but not limited to issue price, rights entitlement ratio, record date, timing and terms of payment will be determined in due course," the filing added.
Share Price
Shares of Inox Wind closed 0.43% higher at Rs 167.18 apiece on the National Stock Exchange before the announcement, compared to a 0.4% decline in the benchmark Nifty. The share price has risen 0.41% in the last 12 months but fallen 7.65% on a year-to-date basis.
Out of the nine analysts tracking the company, eight have a 'buy' rating on the stock and one recommends 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 36.8%.
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