Promoter Buys Rs 141 Shares at Rs 10: Wind Energy Company Issues 50 Crore Shares, Strong Order Book

In 2024, the stock has rallied about 13.6 per cent, and in the last 12 months, the stock has delivered multibagger returns of 260.4 per cent.

Inox Wind Ltd (IWL) is a part of the INOXGFL group and stands as India’s leading wind energy solutions provider, servicing IPPs, Utilities, PSUs, Corporates, and Retail Investors. Inox Wind is a fully integrated player in the wind energy market with three state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh, having a cumulative manufacturing capacity of 1,600 MW. Inox Wind manufactures key components of the Wind Turbine Generator (WTG) to ensure high quality, reliability of performance, and cost competitiveness, based on the most advanced technology.

In a significant recent development, Inox Wind Limited issued 50 crore -0.01% Non-Convertible, Non-cumulative, participating, Redeemable Preference Shares of Rs. 10 each of the Company, fully paid-up, at par, on private placement basis to Inox Wind Energy Limited (Promoter Company) for cash consideration of Rs 500 crore.

The share price of Inox Wind closed at Rs 141.86, up by 1.24 per cent on Friday. In 2024, the stock has rallied about 13.6 per cent, and in the last 12 months, the stock has delivered multibagger returns of 260.4 per cent. The company has an order book of 2.7 GW, providing healthy revenue visibility of over Rs 18,000 crore over the medium term. Commercial production of the 3.3-MW turbines from the second half of fiscal 2024 has led to improved profitability. Furthermore, the company has a 3.2 GW O&M portfolio, which could grow driven by inorganic expansion and order execution. Backed by the extensive experience of the promoters, revival in the wind sector, and commercialization of the 3.3 MW turbine, the operating performance is expected to remain healthy in the near term.

In May, Inox Wind Energy Limited (IWEL), the promoter of Inox Wind (IWL), successfully raised Rs 900 crore through the sale of equity shares of Inox Wind via block deals on the stock exchanges. The funds raised will be used to pare down the debt of Inox Wind and augment the working capital needs of the company, thereby strengthening its balance sheet further.

Disclaimer: The article is for informational purposes only and not investment advice.