Promoter entity of wind energy solutions provider Inox Wind Ltd is likely to sell a stake worth Rs 500 crore via a block deal on Tuesday (August 8), sources privy to the developments said.
Under the transaction, the offer price for the deal will be at a maximum discount of 5 percent against the current market price, sources close to the development said.
Inox Wind, part of the $5 billion Inox GFL Group, is a fully integrated player in the wind energy market. Inox Wind services IPPs, utilities, public sector units, and corporate investors, and three manufacturing plants in Gujarat, Himachal and Madhya Pradesh.
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While the Ahmedabad plant and Barwani plant manufacture blades and tubular towers, hubs, and nacelles are manufactured at the facility at the Una plant in Himachal. It also has a facility for hubs and nacelles at Bhuj in Gujarat. It has a total manufacturing capacity of 1,600 MW per annum.
The Inox GFL Group includes companies like Gujarat Fluorochemicals and Inox Wind. While Gujarat Fluorochemicals is engaged in the manufacturing of specialty chemicals.
Shares of Inox Wind Ltd ended at Rs 210.60, down by Rs 3.30, or 1.54 percent on the BSE.
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