{"id":621027,"date":"2023-12-04T17:00:52","date_gmt":"2023-12-04T11:30:52","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=621027"},"modified":"2023-12-04T17:00:52","modified_gmt":"2023-12-04T11:30:52","slug":"inox-wind-energy-infuses-rs-800-cr-in-arm-firm-to-use-money-to-clear-debt","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/inox-wind-energy-infuses-rs-800-cr-in-arm-firm-to-use-money-to-clear-debt\/","title":{"rendered":"Inox Wind Energy infuses Rs 800 cr in arm, firm to use money to clear debt"},"content":{"rendered":"<p>Inox Wind Energy Ltd (IWEL) on Monday said it has infused Rs 800 crore into Inox Wind Limited (IWL) and the subsidiary company will utilise the amount to clear a portion of its outstanding debt.<\/p>\n<p>IWEL had earlier raised Rs 800 crore through sale of equity shares of Inox Wind through block deals on the stock exchanges.<\/p>\n<p>&#8220;Inox Wind Energy Limited completes infusion of Rs 800 crore into Inox Wind Ltd. The funds received will be utilized to repay IWL&#8217;s existing debt,&#8221; IWEL in a regulatory filing on Monday.<\/p>\n<p>&#8220;For this cash consideration of Rs 800 crore, Inox Wind has allotted 0.01 per cent non convertible redeemable preference shares (NCRPS) of Rs 10 each to IWEL,&#8221; a separate statement said.<\/p>\n<p>Kailash Tarachandani, the CEO of Inox Wind said the recent round of fundraising by IWL&#8217;s promoter and the subsequent capital infusion into IWL is a significant step towards the company&#8217;s aim of becoming a net-debt free company.<\/p>\n<p>INOXGFL Group is operating across two key verticals &#8212; chemicals and renewable energy. It has four listed entities namely Gujarat Fluorochemicals Limited (GFL), Inox Wind Limited, Inox Green Energy Services Limited, and Inox Wind Energy Limited.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inox Wind Energy Ltd (IWEL) on Monday said it has infused Rs 800 crore into Inox Wind Limited (IWL) and the subsidiary company will utilise the amount to clear a portion of its outstanding debt. IWEL had earlier raised Rs 800 crore through sale of equity shares of Inox Wind through block deals on the stock exchanges. &#8220;Inox Wind Energy Limited completes infusion of Rs 800 crore into Inox Wind Ltd. The funds received will be utilized to repay IWL&#8217;s existing debt,&#8221; IWEL in a regulatory filing on Monday. &#8220;For this cash consideration of Rs 800 crore, Inox Wind has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-621027","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/621027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=621027"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/621027\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=621027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=621027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=621027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}