Inox Wind Share Price Rises After Securing 51 MW Order from First Energy

Market Performance

In early trade on July 23, Inox Wind share price witnessed a positive uptick after the company announced a major order win.

• Opening Price (09:17 AM): ₹166.80
• Previous Close: ₹165.50
• Price Gain: ₹1.30
• Percentage Change: +0.79%

The recent surge comes after the company disclosed a new project win involving its advanced wind turbine models.

Main News: Inox Wind Bags 51 MW Order from First Energy

Inox Wind announced that it has secured a 51 MW order from First Energy (FEPL). This order involves the supply of the company’s 3 MW class wind turbines, featuring:

• 140-meter hub height
• 145-meter rotor diameter

These turbines are set to be deployed at a project site in Tamil Nadu, which is being developed through First Energy 10 Private Limited, an SPV of First Energy.

The scope of the order includes:

• Limited EPC services, including supervision
• Multi-year Operations & Maintenance (O&M) services post-commissioning

These services will be carried out via Inox Wind’s subsidiaries, ensuring streamlined execution and maintenance.

Company Details

In another key development, Inox Wind’s Board of Directors, in a meeting held on July 17, approved a rights issue to strengthen the company's financials.

Rights Issue Highlights:

• Instrument: Equity shares with face value of ₹10 each
• Total Fundraising Limit: ₹1,250 crore
• Eligibility: To be offered to existing equity shareholders as on the record date

This move aims to enhance liquidity and fund future growth initiatives, though the exact deployment plan has not been disclosed.

Stock Highlights

• 52-Week High: ₹262.10 (as of September 23, 2024)
• 52-Week Low: ₹130.20 (as of January 28, 2025)
• Current Trading Level:
  • 36.36% below its 52-week high
  • 28.11% above its 52-week low

As of the latest update, Inox Wind's market capitalisation stands at ₹27,090.44 crore, reflecting steady investor interest in the renewable energy space.

Summary of the Article

The Inox Wind share price gained traction after the company secured a 51 MW order from First Energy, boosting investor sentiment.The project, to be established in Tamil Nadu, involves the supply of turbines along with operational and maintenance services. Additionally, the board’s approval of a ₹1,250 crore rights issue has positioned the company for future capital enhancement. The stock remains volatile but continues to trade well above its recent lows, signaling resilience in a fluctuating market.