Statement of Nil Deviation/Variation in utilisation of proceeds raised through preferential issue.
INOXGREEN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Inox Green Energy Services Limited has filed a nil deviation statement confirming that proceeds from its preferential issue have been utilised as intended. The company raised Rs. 966.30 crore against the planned issue size of Rs. 1,050 crore. The Rs. 83.70 crore shortfall occurred because warrant holders did not exercise conversion of 76,96,205 warrants. Funds were deployed across three objects: debt repayment (Rs. 109.64 crore fully utilised), investment in subsidiaries (Rs. 447.20 crore of Rs. 621 crore allocated), and general corporate purposes (Rs. 56.64 crore of Rs. 235.66 crore allocated). The Audit Committee reviewed and noted the statement on 14th May 2026 with no comments.
Positive signal for shareholders as no misuse of funds is indicated. The partial utilisation of subsidiary investments and corporate purpose funds suggests ongoing deployment. The warrant conversion shortfall may imply potential future dilution if those warrants are exercised.