Indowind Energy’s Rights Issue Subscribed 1.6 Times

6 Aug 2024 , 12:55 PM

Today, Indowind Energy Limited announced the successful closure of its rights issue. The issue, which offered 2.15 crore fully paid-up equity shares, was oversubscribed by 1.59 times.
The rights issue was launched on July 26, 2024, with the subscription period running until August 5. The company offered the shares at ₹22.50 per share, including a premium of ₹12.50 a share. The company raised ₹48.30 crore from the rights issue, offered in the ratio of 1 share for every 5 fully paid-up shares held as of the record date, July 16.
At 1211 IST, Indowind Energy shares were trading at ₹30.79 on the National Stock Exchange, up 3.0% from the previous close.
This strong demand underscores the market’s positive outlook on Indowind Energy’s growth potential and its strategic direction in the renewable energy sector, the company said.