Inox Wind Board of Directors approves fundraising up to Rs 402.50 cr

During the meeting of April 20, 2022

Inox Wind’s Board of Directors, at its meeting on April 20, 2022, approved the raising of funds up to Rs 402.50 crore through preferential issuance of shares and convertible warrants to Inox Lending and Finance (promoter group), Samena Green (non-promoter foreign company) and Lend Leasing (India) (non-promoter). The allocation of shares and warrants will be as follows –

Inox Lending and Finance – Rs 150 crore (preferential equity issue)

Samena Green – Rs 152.50 crore (preferential issue of Rs 32.50 crore shares and convertible warrants Rs 120 crore)

Lend Leading (India) – Rs 100 crore (preferential issuance of Rs 30 crore shares and Rs 70 crore convertible warrants)

The Board also approved the conversion of 0.01% non-convertible, non-cumulative, participating and redeemable preferred shares allocated to the promoter group into mandatory convertible preferred shares totaling Rs. 918.35 crores.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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