iShares Global Clean Energy Bulk Deal: iShares Global Clean Energy UCITS ETF made a significant investment in Inox Wind Ltd., purchasing shares worth Rs 1,517 crore in a bulk deal on the National Stock Exchange on Friday. The ETF acquired 68.25 lakh shares, representing a 0.52% stake, at a price of Rs 222.3 per share.
Earlier, on Sept. 23, Inox Wind secured financial backing through a consortium of banks led by ICICI Bank Ltd. The company was provided with financial limits of around Rs 2,200 crore, which could increase to Rs 2,400 crore after ICICI Bank assesses its working capital requirements. The funding consists mainly of non-fund-based limits like bank guarantees and letters of credit.
In addition, Inox Wind’s subsidiary, Resco Global Wind Services Ltd., raised Rs 350 crore through equity funding from key investors on Sept. 12. Following this, Resco Global ceased to be a wholly-owned subsidiary of Inox Wind. The equity was raised by allotting shares on a preferential basis via private placement to non-promoters.
Shares of Inox Wind closed 4.52% higher at Rs 225.50 on the NSE, while the benchmark Nifty 50 saw a modest gain of 0.42%. The stock has risen 77.98% year-to-date and surged by 308.21% over the past 12 months.
However, the stock recently fell 3.36%, closing at Rs 208.50 per share.
