Inox Wind completes Rs 900-crore capital infusion to go debt-free

Inox Wind operates four manufacturing facilities capable of producing blades, tubular towers, hubs, and nacelles, with an annual capacity of approximately 2.5 GW

Inox Wind Limited (IWL) has received a Rs 900-crore capital infusion from promoter Inox Wind Energy Limited (IWEL).

The fund was raised through the sale of equity shares of IWL, a prominent player in India's wind energy sector, in block deals on stock exchanges, attracting participation from several high-profile investors.

According to a filing with the Bombay Stock Exchange (BSE), IWEL finalised the capital infusion on July 4, marking a significant step towards achieving a debt-free status for IWL. The proceeds from the infusion will be used to retire the company's external term debt and thereby enhance its financial position and accelerate the growth prospects.

CEO Kailash Tarachandani sounded upbeat on the company's future. "This fund infusion will bolster our balance sheet and position us as a net debt-free entity. We anticipate substantial reductions in interest expenses, which will bolster profitability moving forward." He emphasised Inox Wind's readiness for substantial growth, highlighting its robust order book, extensive manufacturing capabilities across Gujarat, Himachal Pradesh, and Madhya Pradesh, and advanced technological offerings.

Inox Wind operates four manufacturing facilities capable of producing blades, tubular towers, hubs, and nacelles, with an annual capacity of approximately 2.5 GW under its MW series WTG offering. The company's subsidiary, Inox Green Energy Services Ltd, is India's sole listed wind operations and maintenance (O&M) services provider, managing a portfolio exceeding 3.2 GW.