Indowind Energy Rights Issue will open for subscription from 27 January 2023. the company aims for an issue size of ₹43.08 Crores through this rights Issue.
About the company
Indowind Energy Limited is an Independent Power Producer and operates in the renewable energy field generating. They have dedicated Wind farms where they also offer allied services in the Wind Energy sector.
Indowind aspires to become a global player in the wind energy sector with its dedication and continuous growth in the sector. The company has impeccable capabilities in setting up, Operating, and Maintaining Wind farms backed by optimum machine availability. The customer base of the company largely consists of Corporates and EB and they serve them with their experience of over a decade of the domain and technology knowledge to provide end-to-end solutions & services.
Objectives of the Issue
- Repayment of secured loan obtained by the Company from EXIM Bank of India under the negotiated terms.
Rights Issue Timetable
| Record Date | 13 January 2023 |
| Credit of Rights Entitlements | 20 January 2023 |
| Bid/Offer Opens On | 27 January 2023 |
| Renunciation of Rights Entitlements | 06 February 2023 |
| Bid/Offer Closes On | 10 February 2023 |
| Deemed Date of Allotment | 20 February 2023 |
| Credit Date | 24 February 2023 |
| Listing Date | 28 February 2023 |
Indowind Energy Rights Issue Details
| Issue Open | Jan 27, 2023 – Feb 10, 2023 |
| Security Name | Indowind Energy Limited |
| Issue Size (Shares) | 35,896,594 |
| Issue Size (Amount) | ₹43.08 Crores |
| Issue Price | ₹12 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The entire amount is payable on the Application. |
| Entitlement | 2 Equity Shares for every 5 Equity shares held on the Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 291.51 | 20.67 | 0.22 |
| 31-Mar-22 | 287.8 | 27 | 0.13 |
Lead Manager(s)
Rights Issue Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightsissue@bigshareonline.com
Website: http://www.bigshareonline.com
Company Contact Information
Indowind Energy Limited
Kothari Buildings 4th Floor,
114, M.G. Road, Nungambakkam,
Chennai-600034
Phone: +91 44 28331956/57/58
Email: contact@indowind.com
Website: https://www.indowind.com/index.htm
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
