“The IWL Committee of the Board of Directors for Operations of the Company in their meeting held today i.e. 18 January, 2022 have accorded its approval to participate in the proposed offer through an offer for sale of equity shares aggregating up to an amount of Rs 400 crore,” a BSE filing stated.
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Inox Wind on Tuesday said a panel of its board has endorsed its participation in the proposed initial public offer of Inox Green Energy Services Ltd (IGESL) through a proposal available to be purchased of value shares worth Rs 400 crore. On December 6, 2021, IGESL board approved fund raising through an initial public offer involving new issue of equity shares totaling up to Rs 500 crore (Fresh Issue) or potentially a proposal available to be purchased of value shares by specific existing and qualified shareholders of the organization (together with the Fresh Issue, Offer).
The company, as an existing eligible shareholder of IGESL, had to consider and finalise its participation in the proposed offer.
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