3200-MW order book: Wind energy company announces 5:78 rights issue of shares; Raising Rs 1249.33 crore

DSIJ Intelligence-1 / 24 Jul 2025/ Categories: Mindshare, Trending

3200-MW order book: Wind energy company announces 5:78 rights issue of shares; Raising Rs 1249.33 crore

The stock gave multibagger returns of 210 per cent in just 2 years and a whopping 1,700 per cent in 5 years.

Inox Wind Limited's Board of Directors, in a meeting, approved the terms for a Rights Issue of fully paid-up Equity Shares with a face value of Rs 10 each. This follows earlier intimations and in-principle approvals from NSE and BSE on July 21, 2025, and July 22, 2025, respectively. The company plans to issue 10,41,10,712 Equity Shares, aggregating up to Rs 1249.33 crore, assuming full subscription. The Rights Issue Price is set at Rs 120 per share (including a premium of Rs 110), payable on application.

The Rights Entitlement Ratio is 5 Rights Equity Shares for every 78 Equity Shares held by eligible shareholders as on the Record Date, which is Tuesday, July 29, 2025. The Rights Issue will open on Wednesday, August 6, 2025, with the last dates for on-market and off-market renunciation of Rights Entitlement being Thursday, August 14, 2025, and Tuesday, August 19, 2025, respectively. The Issue Closing Date is Wednesday, August 20, 2025. Before the Rights Issue, outstanding Equity Shares stood at 162,41,27,110, which will increase to 172,82,37,822 assuming full subscription.

Additionally, Inox Wind Limited (IWL) has secured its first-ever order from First Energy Private Limited (FEPL), a Thermax Group company, for a 51 MW wind project in Tamil Nadu. The contract, announced today, July 23, 2025, involves the supply of IWL’s 3 MW class turbines with a 140-meter hub height and 145-meter rotor diameter. Additionally, IWL will provide limited scope EPC services, including supervision, and multi-year operations and maintenance (O&M) services through its subsidiaries.

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About the Company

As a key peer to Suzlon in the Indian wind energy sector, Inox Wind Limited, a subsidiary of the INOX Group, is a fully integrated wind energy solutions provider. The company manufactures Wind Turbine Generators (WTGs) and essential components like nacelles, hubs, and rotor blade sets. Beyond manufacturing, Inox Wind delivers comprehensive, end-to-end solutions, including wind resource assessment, site acquisition, infrastructure development, and operations and maintenance (O&M) for wind power projects. Their diverse clientele includes major players like Tata Power, Adani, NTPC and Oil India Ltd, servicing Independent Power Producers (IPPs), Utilities and Public Sector Undertakings (PSUs).

In its Quarterly Results (Q4FY25), the company reported net sales of Rs 1,275 crore and net profit of Rs 190 crore while in its annual results (FY25), the company reported net sales of Rs 3,557 crore and net profit of Rs 438 crore. The company has a market cap of over Rs 25,000 crore with a 3-year stock price CAGR of 105 per cent. The company’s order book is Rs 3,200 MW as of March 31, 2025. The stock gave multibagger returns of 210 per cent in just 2 years and a whopping 1,700 per cent in 5 years.

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