Inox Green Energy Services Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
INOXGREEN · price
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Inox Green Energy Services Limited has submitted a nil deviation statement for the quarter ended 31st March 2026 regarding Rs. 966.30 crore raised through a Preferential Issue of equity shares and convertible warrants. The company had targeted Rs. 1,050 crore but raised Rs. 966.30 crore due to non-exercise of conversion rights for 76,96,205 warrants, leaving a shortfall of Rs. 83.70 crore. Funds have been deployed across three stated objects: debt repayment (Rs. 109.64 crore fully utilised), investment in subsidiaries (Rs. 447.20 crore utilised of Rs. 621.00 crore allocated), and general corporate purposes (Rs. 56.64 crore utilised of Rs. 235.66 crore allocated). CARE Ratings Limited is the monitoring agency. The Audit Committee reviewed and noted the statement on 14th May 2026 with no comments. No deviations from the original objects were reported.
No immediate shareholder concern — proceeds are being utilised as per stated objects with no deviation. The partial warrant conversion indicates some investor hesitation, but this does not impact current fund deployment.