Sarnena Green, non promoter-foreign company, will infuse Rs 152.5 crore through preferential issue of equity shares (Rs 32.50 crore) and convertible warrants (Rs 120 crore).

Lend Lease Company (India), non promoter, will infuse Rs 100 crore through preferential issue of equity shares (Rs 30 crore) and convertible warrants (Rs 70 crore).

The company will issue equity shares at Rs 126 per equity share. Each unlisted warrant carry a right to subscribe to one equity share of face value of Rs 10 each of the company at a premium of Rs 122 per equity share for each warrant to be converted as per their term.

The board also approved conversion of 91,83,51,137, 0.01% non-convertible, non-cumulative, participating, redeemable preference shares allotted to promoter group into 7,28,85,010 compulsorily convertible preference shares of Rs 126 each, aggregating to Rs 918.35 crore.

Devansh Jain - executive director, Inox GFL Group, said: "We are excited about the emerging opportunities in the sector and believe Inox Wind is well positioned to leverage them as India aims to generate 50% of its energy from non- fossil fuels by 2030 thus unlocking huge potential for the sector. The infusion of funds is a strategic initiative by promoters ensuring strong support towards sustaining significant growth going forward."

Chetan, managing director - Samena Green said: "We are excited to be partnering with Inox Wind, we believe this sector has a huge potential and Inox Wind is well positioned to capitalise it. Given the global shift towards renewables with India playing a leading role towards carbon neutrality, we believe this partnership will be fruitful for all stakeholders. We will forge a long term partnership with Inox Wind Limited and be a key stakeholder in its growth journey."

Kailash Tarachandani, CEO of Inox Wind, said: "This round of fund infusion led by promoters along with other investors not only reflects their confidence in the firm but will also enable in further accelerating the company's growth."

Inox Wind is India's leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. It is a fully integrated player in the wind energy market with three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh.

Inox Wind reported net loss of Rs 62.13 crore in Q3 December 2021 as against net loss of Rs 51.97 crore in Q3 December 2020. Net sales declined 25.40% to Rs 152.03 crore in Q3 December 2021 over Q3 December 2020.