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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Awaiting price reaction for this filing.
Inox Green Energy Services has confirmed to the exchanges that there is no deviation or variation in the use of funds raised through its Preferential Issue for the quarter ended 31st March 2025. Out of the total preferential issue of Rs. 1,050 Crore (equity shares and convertible warrants), the company has so far received Rs. 592.50 Crore and utilised Rs. 421.17 Crore. The utilised amount was directed towards debt repayment (Rs. 109.64 Crore), investments in subsidiaries (Rs. 275.95 Crore), and general corporate purposes (Rs. 35.58 Crore), broadly in line with the original allocation. The statement was reviewed and noted by the Audit Committee on 13th May 2025, with CARE Ratings Limited acting as the monitoring agency.
This is a routine compliance filing under SEBI Listing Regulations and is a positive sign for shareholders, confirming that the company is deploying raised capital as promised. There is no material impact on stock price expected, though it reinforces management's commitment to stated fund-use objectives.