Shares of Inox Wind Energy rallied 8% and hit a 52-week high of Rs 3,050 in Wednesday’s trade on BSE after it sold Rs 500 crore of equity shares of its subsidiary Inox Wind through a block deal to institutional investors.
“INOXGFL Group, one of India’s leading conglomerates, announces the successful conclusion of the equity share sale of Inox Wind by its promoter and promoter group entities. Through a well-executed block deal on the stock exchanges, these entities have effectively raised Rs 500 crore,” Inox Wind Energy said in an exchange filing.
