Indowind Energy Limited has informed the Exchange regarding 'DRAFT LEETER OF OFFER - RIGHTS ISSUE'.
INDOWIND · price
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Awaiting price reaction for this filing.
Indowind Energy Limited has filed a Draft Letter of Offer with the stock exchanges for a rights issue of equity shares of face value ₹10 each. The total issue size is up to ₹4,950 lakhs (approximately ₹49.5 crore), assuming full subscription. The issue is being offered to eligible equity shareholders on a rights basis. Key details such as the issue price, rights ratio, record date, and issue opening/closing dates are yet to be finalized and shown as placeholders in the draft. The company's shares are currently listed on both BSE and NSE, with BSE designated as the lead stock exchange. Mark Corporate Advisors is the lead manager and Bigshare Services is the registrar to the issue.
Existing shareholders will get an opportunity to subscribe to additional shares in proportion to their current holdings, which could lead to share dilution if they do not participate. The capital raise of up to ₹49.5 crore may be used for business expansion or debt reduction, but the purpose has not been clearly indicated in this draft. Investors should wait for the final Letter of Offer with confirmed pricing, ratio, and record date before making decisions.