Inox Wind issues NCDs worth Rs 195 cr; stocks down
Shital Jibhe / 15 Feb 2017
Inox Wind Limited has informed the BSE that Inox Wind Infrastructure Services Limited (IWISL) has issued rated, unlisted, secured, redeemable, non-convertible debentures (NCDs), aggregating Rs 195 crore, on private placement basis.
Inox Wind Limited has informed the BSE that Inox Wind Infrastructure Services Limited (IWISL) has issued rated, unlisted, secured, redeemable, non-convertible debentures (NCDs), aggregating Rs 195 crore, on private placement basis. The NCDs will carry a coupon rate of 8.33 per cent (payable semi-annually) and are guaranteed by the company.
In the last one year, the stock of Inox Wind has fallen by 27 per cent and its P/E stands at 10.28. Reliance Mutual Fund, Birla Mutual Fund, Sundaram Mutual Fund, HSBC Mutual Fund, Union Mutual Fund and Edelweiss Mutual Fund are the six mutual fund houses which have invested in the stock of the company.
Inox Wind is the subsidiary of Gujarat Fluorochemicals and is engaged in providing wind services. The stock of the company is currently trading at Rs 177.05, down by Rs 0.85 or 0.48 per cent from its previous closing of Rs 178.3 on the BSE.
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