Indowind Energy Rights Issue is scheduled on 26 Jul – 5 Aug 2024
Founded in 1995, Indowind Energy stands as an Independent Power Producer specializing in the operation, maintenance, and ownership of windmills. They have dedicated Wind farms where they also offer allied services in the Wind Energy sector. Across Tamil Nadu and Karnataka, Indowind Energy harnesses the natural power of wind, boasting an impressive 49.645 MW energy generation capacity spread across 123 windmills. Specifically, 29.55 MW operates in Tamil Nadu, while an additional 20.095 MW operates in Karnataka, underscoring their commitment to sustainable energy solutions.
Electricity generated from its windmills is sold through the group captive scheme and third-party sales to corporate entities and the State Electricity Board BESCOM, under Power Purchase Agreements (“PPAs”). The client base of the company includes Oracle, Tata Teleservices, Coca-cola, HDFC Bank, Hindustan Unilever, Titan, Wheels India Ltd, KPTCL (Government of Karnataka), etc.
Promoters of Indowind Energy – Bala Venckat Kutti, Indus Finance Limited, and Loyal Credit & Investments Limited
Table of Contents
Indowind Energy Rights Issue Details
| Indowind Energy Rights Issue Date | 26 Jul – 5 Aug 2024 |
| Indowind Energy Rights Issue Price | INR 22.50 per share |
| Issue Size (in Shares) | 2,14,66,956 shares |
| Issue Size (in INR) | INR 48.30 crore |
| Issue Entitlement | 1 equity shares for every 5 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Indowind Energy Rights Issue Record Date | 10 July 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE, NSE |
Indowind Energy Rights Issue Calculation
| Indowind Energy Rights Issue Price | INR 22.50 per share |
| Market Price on Rights Issue Approval | INR 29.57 per share |
| Dilution Factor (X) | 1.2 |
| Fair Value After Dilution at Prevailing Price | INR 28.39 per share |
Indowind Energy Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 24.56 | 33.96 | 39.71 |
| Expenses | 18.02 | 19.97 | 23.87 |
| Operating Margin (%) | 26.63 | 41.20 | 39.89 |
| Net Income | 0.13 | (19.26) | 7.27 |
| ROCE (%) | 0.71 | 2.73 | 3.73 |
Indowind Energy Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- To invest in developing the 6 MW (DC) Solar Power Project in Tamil Nadu – INR 26.95 crore
- Appropriation of a part of the Net Proceeds to issue Rights Shares to Loyal Credit & Investments Limited, one of the Corporate Promoters of the company as and by way of reimbursement of the amount paid by Loyal Credit & Investments Limited to EXIM on its behalf – INR 10 crore
- General corporate purposes
Indowind Energy Rights Offer Documents
- Indowind Energy Rights Issue Application Form
- Indowind Energy Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Indowind Energy Rights Issue Dates
| Rights Issue Approval Date | 10 July 2024 |
| Rights Issue Record Date | 16 July 2024 |
| Credit of Rights Entitlement | 25 July 2024 |
| Rights Issue Opening Date | 26 July 2024 |
| Last Date for Market Renunciation | 31 July 2024 |
| Rights Issue Closing Date | 5 August 2024 |
| Finalization of Basis of Allotment | 9 August 2024 |
| Rights Allotment Date | 9 August 2024 |
| Credit Date | 16 August 2024 |
| Listing Date | 20 August 2024 |
Indowind Energy Rights Offer Lead Manager
SRUJAN ALPHA CAPITAL ADVISORS LLP
824 & 825, Corporate Avenue,
Sonawala Rd, Opposite Atlanta Centre,
Sonawala Industry Estate, Goregaon, Mumbai – 400 063
Phone: +91 022-46030709
E-mail: [email protected]
Website: www.srujanalpha.com
Indowind Energy Rights Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200 / 22
Email: [email protected]
Website: www.bigshareonline.com
Indowind Energy Issue Contact Details
INDOWIND ENERGY LIMITED
Kothari Buildings, 4th Floor,
Chennai, Tamil Nadu, 600 034
Phone: 044-28331310
E-mail: [email protected]
Website: www.indowind.co.in
Indowind Energy Rights Offer FAQs
What is the Indowind Energy Rights Issue Price?
The issue price is INR 22.50 per share.
What is the Indowind Energy Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 5 Equity Shares held on the record date.
What is the Indowind Energy Rights Issue Record Date?
The Record date is 16 July 2024.
How to Apply for the Indowind Energy Rights Offer?
The best way to apply for the Indowind Energy Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
