Inox Wind Limited confirms no deviation or variation in the utilization of proceeds raised through its Rights Issue for the quarter ended September 30, 2025. The funds were used in alignment with the stated objectives outlined in the Letter of Offer. An audit committee reviewed and noted the statement on November 14, 2025, ensuring transparency in fund allocation and deployment for the specified period.
Rights Issue Proceeds Update
Inox Wind Limited has announced that there has been no deviation in the utilization of funds raised through its Rights Issue. This announcement pertains to the financial quarter ending September 30, 2025. The company confirms that all proceeds were utilized in accordance with the objectives defined in the Letter of Offer.
Details of Fund Utilization
The total amount raised through the Rights Issue was Rs. 1249.33 Crore. The funds were earmarked for specific purposes, including:
- Repayment/redemption of NCPRPS issued to the Promoter: Rs. 560.00 Crore
- Prepayment/repayment of certain borrowings: Rs. 159.00 Crore
- Investment in Inox Renewable Solutions Limited (IRSL): Rs. 65.00 Crore
- General corporate purposes: Rs. 273.00 Crore
- Issue expenses: Rs. 6.61 Crore
As of September 30, 2025, there are unutilized funds of Rs. 185.72 Crore, primarily related to IRSL investments, which are expected to be deployed according to the original plan.
Review and Approval
The statement regarding the utilization of funds has been reviewed and approved by the Audit Committee in their meeting held on November 14, 2025. This affirms that the company has adhered to its stated objectives for the use of the Rights Issue proceeds.
Source: BSE
