Shares of Inox Wind Limited (IWL) rose by 9% after the company’s Board of Directors proposed the issuance of bonus shares. The proposal suggests issuing three bonus equity shares for every existing equity share, taken from the company’s accumulated reserves. 

The shares will be issued to shareholders whose names appear in the Register of Members as of the ‘Record Date’. This move will increase the company’s capital base without any cash outflow and enhance the liquidity of Inox Wind’s shares, increasing participation for a wider set of investors.

In FY24, Inox Wind turned profitable in the Sep-Dec’23 quarter, marking a significant milestone. A substantial ramp-up in business operations drove this achievement. 

The company has taken all necessary steps to capitalise on the sector’s huge tailwinds for future growth. These steps include strengthening the balance sheet, ramping up operations, and securing the technological front for the next decade.

The industry tailwinds were reflected in the strong order book, which will significantly increase profitability in the future.

IWL is a leading provider of complete end-to-end wind energy solutions, from concept to commissioning to O&M. They pride themselves on manufacturing key components of WTGs using the most advanced technology in-house, ensuring high quality, reliability, and cost competitiveness.

The company has certifications in ISO 9001:2008, ISO 14001:2004, OHSAS 18001, and ISO 3834, further validating their commitment to excellence in the manufacturing, installation, commissioning, and O&M of wind turbines.

With strong promoter backing, a healthy balance sheet, robust stakeholder relationships, and bright macro prospects, IWL is embarking on an exciting journey of growth and profitability.

Further, as per reports, the company is planning to issue 632 equity shares of Inox Wind for every 10 equity shares held by Inox Wind Energy. In addition, 632 share warrants, each with an issue price of ₹13.5, will be issued for every 10 share warrants of Inox Wind Energy Ltd., which have an issue price of Rs 847 each.

Last year, Inox Wind’s board approved the amalgamation of Inox Wind Energy into Inox Wind. Under this scheme, shareholders of Inox Wind Energy received 158 equity shares of Inox Wind for every 10 shares held.

At 3:30 pm, the shares of IWL closed 7.65% higher at Rs 649.00 on NSE.