Inox Wind bags 51 MW wind power project; stock hits 52-week high
Inox Wind bags the supply contract from Everrenew for 3 MW Wind Turbine Generators
Inox Wind bags the supply contract from Everrenew for 3 MW Wind Turbine Generators
The order involves Inox Wind Ltd's (IWL) latest 3 MW Wind Turbine Generators (WTGs), and includes end-to-end turnkey execution.
The wind energy solutions provider has achieved “net debt free status” with this capital infusion by its promoter, Inox Wind Energy.
Inox Wind says its board is scheduled to meet on May 31, 2024, to approve raising of funds via the issuance of securities
According to the regulatory filing by the company, the funds will be utilised to repay its existing debt.
India's wind sector, going through a rough patch, is set for a rebound as the Centre tweaks auction policy, plans offshore wind projects and focuses on replacing old mills.
The smallcap stock has risen 385% in the last one year, from its 52-week low of ₹442.95 on June 23, 2022, to an all-time high of ₹2,150 intraday today.
In a big boost to off-shore wind energy projects, the government has given complete waiver of ISTS charges for 25 years to projects commissioned on or before December 31, 2032
The share price of Inox Green Energy Services, with a market cap of ₹1,298 crore, is down 28% from its IPO price of ₹65 apiece.
Inox Green shares listed at ₹60 on the NSE, a discount of 7.7% over its issue price of ₹65, while it opened at ₹60.5 apiece on the BSE.