Inox Wind approves raising up to INR12.5B via rights issue

Inox Wind approves raising up to INR12.5B via rights issue

Inox Wind, a leading wind energy solutions provider in India, has announced that its board will consider a proposal to raise funds through a rights issue on July 17, 2024. The announcement was made after market hours on July 14, 2025 [1].

Inox Wind, part of the INOXGFL Group, specializes in wind energy solutions for independent power producers (IPPs), utilities, public sector units (PSUs), and corporate investors. The company has seen significant growth, with its consolidated net profit surging 301.53% to Rs 186.87 crore in the first quarter of FY26, driven by a 141.57% increase in revenue from operations to Rs 1274.82 crore [1].

The proposed rights issue aims to raise up to INR12.5 billion, with the funds expected to be used for various strategic initiatives. This includes expanding manufacturing capacity, developing new wind energy sites, and investing in large-scale renewable energy projects. The company is targeting the execution of 1.2 GW of green projects in FY26 and 2 GW in FY27 [2].

The merger of Inox Wind Energy Ltd. (IWEL) and Inox Wind Ltd. (IWL) has already eliminated Rs 2,050 crore in intra-group debt, streamlining operations and strengthening the balance sheet. This has positioned the company to attract increased investor interest, with the merged entity set to list this month [2].

Inox Wind's current manufacturing capacity is 2.5 GW, and the company plans to expand this capacity to meet future demand. The company is also focusing on backward integration and modular expansion to ensure cost efficiency and support large utility-scale and IPP projects.

The INOXGFL Group has announced a strategic investment of $5 billion (approximately Rs 40,000 crore) across its renewable energy and chemical businesses over the next 2–3 years. This investment reflects the group's commitment to innovation, sustainability, and global competitiveness [2].

In summary, Inox Wind's proposed rights issue is part of its strategic plan to expand its wind energy capabilities and capitalize on India's growing renewable energy market. The company's strong financial performance and strategic initiatives position it well to attract investor interest and achieve its growth targets.

References:
[1] https://www.business-standard.com/markets/capital-market-news/inox-wind-board-to-mull-fund-raising-plan-on-17-july-125071500124_1.html
[2] https://www.financialexpress.com/business/industry/inoxgfl-consolidates-wind-business-plans-rs-40000-cr-re-push/3912604/