Promoter of Inox Wind may sell stake for Rs 500 crore through block deal

Inox Wind Ltd's promoter firm is set to sell a stake worth Rs 500 crore through a block deal. 

Under the transaction, the offer price for the deal will be at a maximum discount of 5 percent against the current market price. 

Inox Wind, a fully integrated operator in the wind energy sector, is a part of the $5 billion Inox GFL Group. Inox Wind provides services to independent power producers (IPPs), utilities, government agencies, private investors, and three manufacturing facilities in Gujarat, Himachal Pradesh, and Madhya Pradesh.

Hubs and nacelles are produced at the Una plant in Himachal, whereas blades and tubular towers are produced at the Ahmedabad and Barwani plants. 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.

Businesses like Gujarat Fluorochemicals and Inox Wind are part of the Inox GFL Group. 

Source: Media Reports