|
PNN
Chennai (Tamil Nadu) [India], December 15: Indowind Energy Limited, involved wind energy-based renewable power generation and distribution focused on owning, operating and maintaining windmills announced today, the successful closure of the issue of 3,22,00,434 (Three Crores Twenty-Two Lakhs Four Hundred and Thirty-Four) fully paid-up Equity Shares on rights basis to the eligible equity shareholders (the "Rights Issue") which was launched on December 01, 2025. The issue resulted in subscription of 3,34,94,890 shares*, resulting in oversubscription by 1.04* times. The issue period was from December 01, 2025, to December 09, 2025. The issue size was 3,22,00,434 (Three Crores Twenty-Two Lakhs Four Hundred and Thirty-Four) fully paid-up Equity Shares aggregating to Rs. 49.43 Crores (Rupees Forty-Nine Crores Forty-Three Lakhs Only) for cash, at a price of Rs. 15.35 per Equity Share (including a premium of Rs. 5.35 per Equity Share) on a rights basis to its eligible equity shareholders in the ratio of 1 (One) Rights Equity Share for every 04 (Four) fully paid-up Equity Shares held as on record date i.e. November 19, 2025. The funds raised via the rights issue will be used in the manner described in the Letter of Offer dated November 13, 2025, i.e. 1. Investment for developing the 4 MW Solar Power Project in Karnataka. 2, Repayment of Secured and Unsecured Loans availed from Corporate Promoters: * Loyal Credit & Investments Limited * Indus Finance Limited 1. General Corporate Purpose The allotment, listing and trading formalities of the new shares on the NSE and BSE are expected to be completed on or about Wednesday, December 17, 2025 and Friday, December 26, 2025, respectively. Intermediaries for this rights issue: * Mark Corporate Advisors Private Limited - the Lead Manager to the Issue,* Bigshare Services Private Limited - Registrar to the Issue* Rajani Associates, Advocates and Solicitors - the Legal Advisor to the Company,* Axis Bank Limited - the Banker to the Issue. Disclaimer: This article is for informational purposes only and does not constitute financial advice. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
|
