Inox Green Energy Services Ltd Share Price – NSE  /  BSE

Infrastructure Developers & Operators, Small Cap

Inox Green Energy Services announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 18 July 2024 .

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The board of Inox Green Energy Services at its meeting held on 26 June 2024 has approved to raise funds aggregating up to Rs 1,050 crore by way of preferential issue of:

(i) Issue of up to 2,89,85,503 equity shares of face value of Rs 10 each of the company at an issue price of Rs 138 per share (inclusive of premium of Rs 128 per share) aggregating to Rs 400 crore to non-promoter entities.

(ii) Issue of upto 4,48,27,582 convertible warrants of face value of Rs 10 each carrying a right to subscribe to one equity share of face value of Rs. lo/- each of the company at a price of Rs. 145 per warrant (including a premium of Rs 135) aggregating to Rs 650 crore to both promoter and non-promoter entities.

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The company will issue up to 2,89,85,503 equity shares with face value Rs 10 each at an issue price of Rs 138 per equity share aggregating up to Rs 400 crore to non-promoter entities.

Further, the firm will issue up to 4,48,27,582 convertible warrants, each carrying a right to subscribe to one equity share with face value Rs 10 at a price of Rs 145 per equity share for each convertible warrant, in one or more tranches within a period of 18 months commencing from the date of allotment of the convertible warrants, aggregating upto Rs 650 crore to both ‘promoter/ promoter group’ and ‘non promoter’ entities.

Inox Green Energy Services is one of the major wind power O&M service providers within India with a fleet size of >3 GW. The company is engaged in the business of providing long-term O&M services for wind projects.

The company reported a consolidated net profit of Rs 21.32 crore in Q4 FY24 as against a net loss of Rs 0.57 crore in Q4 FY23. Revenue from operations declined 7.7% YoY to Rs 52.43 crore during the period under review.

The counter has hit an all time high of Rs 184.55 in today’s intra-day session.

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Inox Green Energy Services will hold a meeting of the Board of Directors of the Company on 26 June 2024.

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