Indowind Energy approves ₹50-crore rights issue, $30-million overseas securities – CNBC TV18

Renewable energy company Indowind Energy Limited announced on Wednesday, December 18, that it has approved a fresh rights issue of up to ₹50 crore to support expansion plans. The decision was announced following a board meeting held earlier in the day.

The board also cleared the issuance of overseas securities worth up to $30 million. These securities will facilitate the exchange or restructuring of outstanding bonds, with surplus funds earmarked for business expansion in India and abroad.

Committees have been set up to oversee the terms of the rights issue and the overseas securities issuance, ensuring compliance with all statutory and regulatory requirements.

The shares of the company ended 1.8% in the red on Wednesday, ahead of the board meeting announcements. The stock has gained more than 23% in 2024 so far.

Also Read: Bank of Baroda to raise ₹10,000 crore via long-term bonds