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Inox Wind Redeems Rs5.6 Billion Preference Shares, Strengthens Balance Sheet

Noida-based Inox Wind has announced the redemption of Rs5.6 billion worth of preference shares, marking a significant step in restructuring its capital. The company redeemed 560 million unlisted, non-convertible, non-cumulative, participating, and redeemable preference shares held by its promoter, Inox Leasing and Finance. These shares carried a 0.01% coupon and a face value of Rs10 each, and were redeemed at par.

The redemption was funded through proceeds from a recently concluded rights issue of equity shares. Inox Wind clarified that this move aligns with the objectives of the rights issue and confirmed that it now has no outstanding preference shares on its books.

Part of the Inox GFL Group, Inox Wind operates four wind turbine manufacturing facilities across Gujarat and Madhya Pradesh with a total annual capacity of 1.5 GW. It also provides end-to-end wind project services, from wind resource assessment and land acquisition to power evacuation infrastructure and commissioning.

Financially, the company reported a 32% YoY increase in revenue to Rs8.63 billion in Q1 FY26, while EBITDA rose 39% to Rs2.2 billion. Recently, its board approved raising Rs12.5 billion via equity issuance, following last year’s Rs22 billion financing facility secured from a consortium of banks led by ICICI Bank.