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Indowind Energy Ltd has launched a rights issue of 3.22 crore shares at INR 15.35 per share, raising INR 49.42 crore. Existing shareholders are offered one share for every four held, with a premium of INR 5.35 included in the price. The record date for eligibility is in the current week, and the subscription period runs from December 1 to December 9. The move aims to strengthen the company's equity base while allowing shareholders to increase their holdings.
Indowind Energy Ltd has proposed a rights issue, offering 3.22 crore equity shares to its existing shareholders at a price of INR 15.35 per share, which amounts to a total of INR 49.42 crore. The company has stated that the offer price includes a premium of INR 5.35 per share. Advertisement
As per the letter of offer released earlier this week, shareholders will be entitled to subscribe to one new share for every four fully paid shares they currently hold. The record date to determine eligible shareholders is set for the same week, ensuring that only shareholders listed by then can participate in the rights issue.
The subscription window for the issue is scheduled to open on December 1 and will close on December 9. The move is part of the company's effort to strengthen its equity base and provide existing investors an opportunity to increase their holdings. Rights issues are a common way for companies to raise capital from current shareholders while offering shares at a preferential price compared with the market.
Indowind Energy has previously raised capital through equity offerings, reflecting a steady approach to funding growth and operational expansion. This latest rights issue continues that trend, providing shareholders with a structured opportunity to increase their investment in the company.
Source PTI
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