Inox Wind, a wind energy company, aims to become net debt-free in the next 12 to 15 months, according to Devansh Jain, the company s Wholetime Director. The company recently announced the sale of a 50 MW operational SPV, which will contribute to reducing its debt. Jain also mentioned that the sector is experiencing a strong comeback, and Inox Wind has received important technical certifications, allowing it to secure orders in the near future.
This fund raising will part-finance the company s capex requirement, for providing inter corporate loan(s) to wholly-owned subsidiaries/JVs and for general corporate purposes by securitization of cash flows of four operational SPV (special purpose vehicles) up to March, 2034, the regulatory filing said.
Sterlite Power has acquired Beawar Transmission Ltd to develop an electricity transmission project in Rajasthan. The project, which is on a Build, Own, Operate, Transfer (BOOT) basis for 35 years, will involve the construction of a 350 km transmission corridor, a 3,000 MVA substation, and two LILO lines.
"Samakhiyali Tollway Private Limited has successfully achieved financial closure for its Samakhiyali Santalpur BOT highway project in Gujarat. The SPV is to execute the project with a cost outlay of Rs 2,092 crore. through IRB Infrastructure Trust," it said.
In a pre-IPO placement, external investor Blue Chandra had sold 10.32 million shares or 8.4 per cent of its stake to renowned investor Madhusudan Kela s wife Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings, for a total consideration of Rs 130 crore.