Inox Green Energy Services Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Inox Green Energy Services Limited has filed its quarterly statement on the use of funds raised through a preferential issue (equity shares and convertible warrants). Out of the total planned preferential issue of Rs. 1,050 Crore, the company has so far received Rs. 592.50 Crore — Rs. 400 Crore from equity shares allotted on 2 August 2023 and Rs. 192.50 Crore from warrants (upfront plus partial exercise) on 30 June 2025. The funds were originally earmarked for two purposes: Rs. 110 Crore for debt repayment and Rs. 690 Crore for investments/loans to subsidiaries. As of 30 June 2025, Rs. 109.64 Crore has been used for debt repayment and Rs. 282.53 Crore for subsidiary investments. CARE Ratings is the monitoring agency. The company has reported no deviation or variation in the use of funds, and both the Audit Committee and auditors have raised no comments.
This is a routine compliance filing confirming that the company is using the funds raised from its preferential issue in line with what was originally disclosed to shareholders, with no deviations flagged. For shareholders, it is a neutral disclosure and does not signal any change in business plans or fund utilization.