Indowind Energy rights issue oversubscribed by 1.04 times

New Delhi, Dec 11 (PTI) Indowind Energy on Thursday said its rights issue of 3.22 crore equity shares, for raising Rs 49.43 crore, has been oversubscribed 1.04 times and successfully closed on December 9.

The issue was open from December 1 to December 9, 2025, a company statement said.

According to the statement, Indowind Energy, engaged in wind-based renewable power generation and distribution with core operations in the ownership, operation, and maintenance of windmills, announced today the successful closure of its Rights issue. The issue comprised 3,22,00,434 fully paid-up equity shares offered on a rights basis to eligible equity shareholders which was launched on December 1, 2025. The issue received subscriptions of 3,34,94,890 shares, resulting in an oversubscription of 1.04 times.

The issue size was 3,22,00,434 fully paid-up equity shares, aggregating to Rs 49.43 crore for cash, at Rs 15.35 per equity share (including a premium of Rs. 5.35 per equity share) on a rights basis to its eligible equity shareholders in the ratio of 1 (One) Rights Equity Share for every 4 fully paid-up equity shares held as on record date i.e. November 19, 2025.

The funds raised through the rights issue will be utilised for developing the 4 MW solar power project in Karnataka, for repayment of secured and unsecured loans availed from the corporate promoters -- Loyal Credit & Investments Ltd and Indus Finance Ltd -- and for general corporate purposes.

The allotment, listing and trading formalities of the new shares on the NSE and BSE are expected to be completed on or about Wednesday, December 17, 2025 and Friday, December 26, 2025 respectively. PTI KKS KKS DR DR