Inox Wind on Wednesday said its board has approved the issuance of preference shares worth Rs 1,100 crore to its promoters.
The decisions in this regard were taken in a board meeting held on October 6 this year, according to a BSE filing.
It also approved the proposal of issuance of 0.01 per cent non-convertible non-cumulative, participating, redeemable preference shares of the face value of Rs 10 each to Inox Wind Energy Ltd, promoter of the company. The issue will be for consideration other than cash, at par, for an aggregate value not exceeding Rs 1,000 crore on a private placement basis.
