Inox Wind shares tumble 10% as promoter likely sells stake via block deal
Inox Wind shares drop 10% on BSE to Rs 147.65 after a likely 5% stake sale by promoter entity IWEL via block deal. Company received 'A' rating from CARE Ratings for banking facilities. Inox Wind, subsidiary of Inox Group, provides wind energy services.
of fell 10% today on to Rs 147.65 after the entity () likely sold its 5% in the company via .As of the quarter ended March 2024, IWEL held a 38.43% stake in the company. Around 5% stake was held by promoter groups , and , while the public held the remaining 47.13% stake.
Shares of started trading on an ex-bonus basis on May 24 wherein the shareholders got 3 for each share they held.
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The company had also informed the stock exchanges that it received an ‘A’ rating from for its banking facilities which reflects Inox Wind’s strong financial position, robust execution capabilities, large order book, and strong macro tailwinds.
Inox Wind is an Indian service provider, a subsidiary of the . The company manufactures Wind Turbine Generators (WTGs) and provides services such as wind resource assessment, site acquisition, infrastructural development, erection and commissioning, long-term operations and maintenance of wind power projects.
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Source: Stocks-Markets-Economic Times
