Inox Wind Energy’s stock reaches a record high of Rs 2,150 with a 19% surge
– Inox Wind Energy’s shares surged by 19% to reach a record high of Rs 2,150.
– After the merger was approved by the board, Inox Wind Energy slipped by 5% to Rs 138.50.
– Inox Wind Energy, a leading wind energy solutions provider, announced on Monday that its board of directors has approved the plan to merge Inox Wind Energy into Inox Wind Energy.
– The merger is subject to various regulatory approvals.
Board approves the merger plan to simplify Inox Wind Energy’s structure
– The board of Inox Wind Energy has given its approval for the merger plan to simplify the company’s structure.
– The board has approved the swap ratio of 158 equity shares of Inox Wind Energy for every 10 equity shares of Inox Wind Energy, issued at an issue price of Rs 54 per share.
– Inox Wind Energy’s shares will be issued at a price of Rs 847 per share.
– The merger is aimed at reducing the number of listed companies and making the group’s structure more efficient.
Inox Wind Energy is a leading provider of wind energy solutions
– Inox Wind Energy is engaged in the production and sale of wind energy.
– The company provides services for the construction, purchase, and commissioning (EPC) of wind farms, and maintains a strategic business interest in renewable energy.
– Inox Wind Energy is also engaged in the manufacture and sale of wind turbine generators (WTGs).
– The company provides EPC, operation and maintenance (O&M), and basic infrastructure services for WTGs and wind farm development services.
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