The board of the wind turbine maker has approved a proposal to raise Rs 99 crore by issuing 990 non-convertible debentures (NCDs).
The board has approved issuance of 990 rated, listed, secured, redeemable, non-convertible debentures (NCDs) having a face value of Rs 10 lakh each, aggregating up to Rs 99 crore, the company said in a filing.The NCDs will have coupon rate of 9.75% per annum payable annually with a tenure till 30 April 2025.
Inox Wind is India's leading wind energy solutions provider. It is a fully integrated player in the wind energy market with manufacturing plants near Ahmedabad (Gujarat) for blades & tubular towers and at Una (Himachal Pradesh) for hubs & nacelles.
Inox Wind reported net loss of Rs 62.13 crore in Q3 December 2021 as against net loss of Rs 51.97 crore in Q3 December 2020. Net sales declined 25.40% to Rs 152.03 crore in Q3 December 2021 over Q3 December 2020.
The board will consider Q4 results on 27 May 2022.
Shares of Inox Wind fell 5.13% to settle at Rs 88.80 on Tuesday.
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