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 Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?