Inox Wind Limited has confirmed that there was no deviation or variation in the utilisation of funds raised through its Rights Issue for the quarter ended June 30, 2026. The company stated that the proceeds were used strictly in line with the objects outlined in the Letter of Offer. A statement of nil deviation, reviewed by the Audit Committee, has been submitted as per SEBI regulations.
Inox Wind Confirms Nil Deviation in Rights Issue Fund Utilisation
Inox Wind Limited has officially submitted its statement confirming no deviation or variation in the utilisation of funds raised through its recent Rights Issue. This declaration pertains to the financial quarter that concluded on June 30, 2026.
Adherence to Offer Objectives
The company explicitly stated that the proceeds from the Rights Issue have been utilised precisely in accordance with the objectives previously communicated in the Letter of Offer. This adherence underscores the company’s commitment to transparency and its established financial governance practices.
Audit Committee Review
A detailed statement outlining this nil deviation and variation has been formally reviewed and noted by Inox Wind’s Audit Committee. This review took place during their meeting held on August 7, 2026, ensuring independent oversight of fund utilisation.
Summary of Fund Utilisation (as of June 30, 2026)
| Original Object | Original Allocation (Rs. in Crore) | Modified Allocation (Rs. in Crore) | Funds Utilised (Rs. in Crore) | Deviation/Variation (Rs. in Crore) | Remarks |
| Repayment / redemption of NCPRPS issued to the Promoter | 560.00 | 560.00 | 560.00 | Nil | No deviation (completed) |
| Prepayment and/or repayment, in full or in part, of certain borrowings availed by the Company (including interest) | 159.00 | 159.00 | 159.00 | Nil | No deviation (completed) |
| Investment in Inox Renewable Solutions Limited (“IRSL”), for repayment/pre-payment, in full or in part, of certain borrowings availed by IRSL including redemption of non-convertible debentures, which investment may be undertaken not only by way of equity investment but also through other permissible modes including, without limitation, non-convertible preference shares, inter-corporate deposits, debentures or such other instruments as may be permissible under applicable law and regulations. | 250.00 | 250.00 | 250.00 | Nil | No deviation (completed) |
| General corporate purposes | 273.70 | 273.72 | -0.02 | The issue expenses have been finalized at Rs. 6.61 crore as against Rs. 6.63 crore in the offer document. The remaining Rs. 0.02 crore have been adjusted in GCP expenses. The unutilized issue expenses are allowed to be utilized for GCP expenses as per offer document. | No deviation (completed) |
| Issue expenses | 6.63 | 6.61 | 0.02 | No utilisation during the quarter ended March 31, 2026. The issue expenses have been finalized at Rs. 6.61 crore as against Rs. 6.63 crore in the offer document. The remaining Rs. 0.02 crore have been adjusted in GCP expenses. | No deviation (completed) |
| Total | 1249.33 | 1249.33 | Nil |
The company has confirmed that the total funds raised amounted to Rs. 1249.33 Crore, and the entire amount has been accounted for with no overall deviation or variation.
Source: BSE
