Indowind Energy Limited, a renewable power producer specialising in wind energy generation, has announced the successful closure of its rights issue of fully paid-up equity shares. The company, which owns, operates and maintains windmills across India, launched the offer on 1 December 2025.

The rights issue comprised 32.20 million equity shares and attracted subscriptions of 33.49 million shares, resulting in an oversubscription of 1.04 times. The offer period ran from 1 to 9 December 2025. The issue aggregated to Rs 494.3 million, priced at Rs 15.35 per share (including a premium of Rs 5.35), and was offered in the ratio of 1 share for every 4 fully paid-up shares held as of the record date, 19 November 2025.

Use of Funds

According to the Letter of Offer dated 13 November 2025, proceeds from the issue will be deployed towards:

Investment in a 4 MW solar power project in Karnataka

Repayment of secured and unsecured loans from corporate promoters:

Loyal Credit & Investments Limited

Indus Finance Limited

General corporate purposes

Allotment, listing and trading of the new shares on the NSE and BSE are expected to be completed by 17 December 2025 and 26 December 2025, respectively.

Issue Intermediaries

Lead Manager: Mark Corporate Advisors Private Limited

Registrar: Bigshare Services Private Limited

Legal Advisor: Rajani Associates, Advocates and Solicitors

Banker to the Issue: Axis Bank Limited