Inox Wind board approves proposal to raise Rs 99 crore

The Inox Wind board has approved a proposal to raise Rs 99 crore through issuance of 990 non-convertible debentures (NCDs), a regulatory filing said. The board of directors has approved issuance of 990 rated, listed, secured, redeemable, non-convertible debentures (NCDs) having a face value of Rs 10 lakh each aggregating up to Rs 99 crore, the filing stated.

The NCDs will have coupon rate of 9.75 per cent per annum payable annually with a tenure till April 30, 2025.