₹NSE₹₹₹₹₹₹₹Inox Green Energy Services Ltd, a subsidiary of Inox Wind, on Wednesday (June 26) said it's its board of directors has approved a plan to raise up to1,050 crore through a combination of preferential issues and convertible warrants.This decision is subject to requisite approvals, including that of the company's shareholders.
Veteran investor Ashish Kacholia has also been issued warrants in this fundraising exercise.The fundraising plan includes the issuance of up to 2.89 crore equity shares with a face value of10 each at an issue price of ₹138 per share, inclusive of a premium of128 per share, worth400 crore.
These shares will be allocated to 'Non-Promoter' entities.Additionally, the company plans to issue up to 4.48 crore convertible warrants, each carrying the right to subscribe to one equity share of face value10 at a price of145 per warrant, inclusive of a premium of135 per equity share.The exercise price for these warrants aggregates up to650 crore.
These warrants will be issued to both 'Promoter/ Promoter Group' and 'Non-Promoter' entities and can be converted into equity shares over a period of 18 months from the date of allotment.Shares of Inox Green Energy Services Ltd ended at ₹180.50, up by ₹8.75, or 5.09% on the BSE.
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Inox Green Energy Services Ltd, a subsidiary of Inox Wind, on Wednesday (June 26) said it's its board of directors has approved a plan to raise up to1,050 crore through a combination of preferential issues and convertible warrants.This decision is subject to requisite approvals, including that of the company's shareholders. Veteran investor Ashish Kacholia has also been issued warrants in this fundraising exercise.The fundraising plan includes the issuance of up to 2.89 crore equity shares with a face value of10 each at an issue price of ₹138 per share, inclusive of a premium of128 per share, worth400 crore. These shares will be allocated to 'Non-Promoter' entities.Additionally, the company plans to issue up to 4.48 crore convertible warrants, each carrying the right to subscribe to one equity share of face value10 at a price of145 per warrant, inclusive of a premium of135 per equity share.The exercise price for these warrants aggregates up to650 crore. These warrants will be issued to both 'Promoter/ Promoter Group' and 'Non-Promoter' entities and can be converted into equity shares over a period of 18 months from the date of allotment.Shares of Inox Green Energy Services Ltd ended at ₹180.50, up by ₹8.75, or 5.09% on the BSE.
