Inox Wind board approves raising Rs 99 cr via NCDs

25 May 2022 , 08:25 AM

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 Indias 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. Powered by Capital Market – Live News