Inox Wind shares zoom 10% to new high after 1:3 bonus share issue
Inox Wind shares surge 10% to a fresh 52-week high of Rs 166 on turning ex-bonus. The company plans a 1:3 bonus issue, with a record date revised to May 25. Recently, it was awarded 'A' rating from CARE Ratings for its banking facilities.
of rallied 10% in today’s session to its fresh of Rs 166 on as the stock traded on an .Earlier in May, the wind turbine manufacturer had informed the exchanges about its intention to issue in the ratio 1:3 to its eligible shareholders, meaning that for every 1 held, 3 new equity shares will be issued.
Initially, the company had fixed May 18 as the , but as per advice from the exchanges, it was revised to May 25.
“As per the advise received from BSE and , the revised Record Date has been fixed for Saturday, 25th May, 2024 for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the ratio of 3:1 i.e. 3 (Three) new fully paid up bonus equity shares of Rs. lo/- each for every i (One) fully paid-up existing equity share of Rs. lo/- each held, as to be approved by Members of the Company at the Extra-ordinary General Meeting (EGM) scheduled to held on Friday, 17th May, 2024,” said in a filing to the exchanges.
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The company recently also informed the stock exchanges that it received an ‘A’ rating from for its banking facilities.
“Inox Wind Limited (IWL), India’s leading wind energy solutions provider, is pleased to announce that it has received ‘A’ rating from CARE Ratings Limited (CARE) for its banking facilities. CARE has assigned the following rating for the Company: • ‘CARE A; Stable / CARE A1’ rating for Inox Wind Limited’s working capital limits,” read the filing.
The ‘A’ category rating reflects Inox Wind’s strong financial position, robust execution capabilities, large order book, and strong macro tailwinds.
Share price of Inox Wind, a leader in wind energy solutions in India, has increased by 463% in the last one year, with multibagger gains of 150% in the last 6 months alone.
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Source: Stocks-Markets-Economic Times
