Inox Wind Secures Rs 22 Bn Financing from ICICI Bank-led Consortium
POWER & RENEWABLE ENERGY

Inox Wind Secures Rs 22 Bn Financing from ICICI Bank-led Consortium

Inox Wind Energy has entered into an agreement with a consortium of banks led by ICICI Bank for a financing facility amounting to Rs 22 billion. This consortium includes ten banks along with several prominent private and foreign banks. It is anticipated that the limit may be increased to ?24 billion based on ICICI Bank’s assessment of working capital. The financing limits primarily consist of non-fund-based bank guarantees and letters of credit.

The limits have been approved based on the financial robustness of Inox Wind’s balance sheet, eliminating the need for any corporate guarantees or additional support from its parent company, Gujarat Fluorochemicals (GFL). As a result of this arrangement, any prior corporate guarantees or similar support provided by GFL to Inox Wind is set to be vacated soon.

Recently, IGREL Renewables, a renewable power generation platform under the INOXGFL Group, raised ?3 billion (approximately $35.8 million) in equity capital from notable investors. This capital infusion is aimed at supporting the expansion of IGREL Renewables’ renewable energy portfolio.

Additionally, the engineering, procurement, and construction division of Inox Wind raised ?3.5 billion through equity investment from various prominent investors. In return for these funds, RESCO issued securities to the participating investors, which include Valrado Venture Partners Fund II, Anchorage Capital Scheme I, JM Financial Products, Founders Collective Fund, One Up Financial Consultants, Authum Investments & Infrastructure, and Capri Global Holdings.

In May, Inox Wind Energy successfully raised around ?9 billion through the sale of equity shares via block deals on the stock exchanges. The funds generated from this sale are intended to be injected into Inox Wind to reduce its debt and enhance the company's working capital, thereby strengthening its balance sheet.

Inox Wind Energy has entered into an agreement with a consortium of banks led by ICICI Bank for a financing facility amounting to Rs 22 billion. This consortium includes ten banks along with several prominent private and foreign banks. It is anticipated that the limit may be increased to ?24 billion based on ICICI Bank’s assessment of working capital. The financing limits primarily consist of non-fund-based bank guarantees and letters of credit. The limits have been approved based on the financial robustness of Inox Wind’s balance sheet, eliminating the need for any corporate guarantees or additional support from its parent company, Gujarat Fluorochemicals (GFL). As a result of this arrangement, any prior corporate guarantees or similar support provided by GFL to Inox Wind is set to be vacated soon. Recently, IGREL Renewables, a renewable power generation platform under the INOXGFL Group, raised ?3 billion (approximately $35.8 million) in equity capital from notable investors. This capital infusion is aimed at supporting the expansion of IGREL Renewables’ renewable energy portfolio. Additionally, the engineering, procurement, and construction division of Inox Wind raised ?3.5 billion through equity investment from various prominent investors. In return for these funds, RESCO issued securities to the participating investors, which include Valrado Venture Partners Fund II, Anchorage Capital Scheme I, JM Financial Products, Founders Collective Fund, One Up Financial Consultants, Authum Investments & Infrastructure, and Capri Global Holdings. In May, Inox Wind Energy successfully raised around ?9 billion through the sale of equity shares via block deals on the stock exchanges. The funds generated from this sale are intended to be injected into Inox Wind to reduce its debt and enhance the company's working capital, thereby strengthening its balance sheet.

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?