Inox Wind shares rise over 1% as board approves rights issue allotment worth over ₹1,249 crore

Shares of Inox Wind rose on Friday, August 22, after the company announced the completion of its rights issue process.

At 10:37 AM, shares of Inox Wind were trading 1.32% higher at ₹144.55 apiece on the NSE. The stock has shown a significant rise of 3.36% in the last 5 days. On the contrary, for a 1-month period, shares have dropped 11.41%.

"The board has considered and approved the allotment of 10,41,10,712 fully paid-up Equity Shares of face value of ₹10/- each on rights basis to the eligible shareholders of the Company and/or renouncee(s) in terms of the Letter of Offer dated 23rd July, 2025 at an issue price of ₹120/- per equity share (including a premium of ₹110/- per equity share)," said the company in an exchange filing.

"Consequent to the said allotment, the Paid-up Equity Share Capital of the Company has increased from ₹1624,12,71,100/- to ₹1728,23,78,220/," the company added.

The rights issue opened on August 6, 2025, and closed on August 20. Through this capital-raising programme, the company raised ₹1,249.33 crore.

A rights issue is a share sale mechanism through which a company’s existing shareholders can purchase additional shares in proportion to their current holdings, typically at a lower price.

Wind turbine generator manufacturer Inox Wind reported over 10-fold year-on-year (YoY) growth in its consolidated net profit to ₹106 crore in the first quarter of the 2025-26 financial year (Q1FY26). In the corresponding period a year earlier, it stood at ₹10 crore. Its revenue from operations rose 29% YoY to ₹826 crore during the quarter under review, as against ₹640 crore in the June quarter of FY25, the firm said in a regulatory filing.

At an operational level, the company’s EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, increased by 36.03% YoY to ₹184 crore in Q1FY26, compared to ₹135 crore in the first quarter of FY25.

Its EBITDA margin expanded to 22.28% during the quarter, in contrast to 21.09% in Q1FY25.

Commenting on the earnings, Sanjeev Agarwal, CEO of Inox Wind, said: “We have commenced FY26 on a strong note and are well on our way to achieve our targets. We are continuously adding new customers to our well-diversified order book. I believe that with the robust outlook for the wind industry in India, supported by ALMM for wind components, domestic wind OEMs and service providers will continue to witness strong demand growth going ahead.”

The company’s order execution in Q1 surged to 146 megawatts (MW), with the order book at approximately 3.1 gigawatts (GW). It added an equipment supply order from First Energy to its order book, comprising PSU, IPP & C&I customers.