Inox Wind sells Rs 175 crore stake in EPC arm

Inox Wind Limited has divested a stake worth about Rs 175 crore in its engineering, procurement, and construction subsidiary, Inox Renewable Solutions Limited, at a valuation of nearly Rs 7,400 crore.

The transaction comes after the stock exchanges cleared the demerger of the substation business from Inox Green and its merger into Inox Renewable Solutions. Approval from the National Company Law Tribunal’s Chandigarh bench for the merger of Inox Wind Energy Limited has also been secured. The restructuring has reduced liabilities by about Rs 20.50 billion.

Inox Wind, part of the INOXGFL Group, operates four manufacturing facilities across Gujarat, Himachal Pradesh, and Madhya Pradesh. The company produces blades, tubular towers, hubs, and nacelles and has an annual manufacturing capacity of around 2.5 GW. Its subsidiary, Inox Green Energy Services, manages over 5 GW of operations and maintenance services.