Shares of Inox Inexperienced Power Providers Ltd had been buying and selling within the purple and three% decrease on 30 April after the corporate introduced its entry into the photo voltaic operations and upkeep (O&M) sector.
Inox Inexperienced Power has signed an settlement to offer operation and upkeep companies for 675 MWp of photo voltaic installations owned by a famend Indian renewable power agency. The tasks are unfold all through a number of states and are positioned on the firm’s quite a few areas.
SK Mathusudhana, the CEO of Inox Inexperienced Power, mentioned, “With this, Inox has now forayed into photo voltaic O&M which gives large-scale progress alternatives for us in one of many quickest increasing industries.”
Inox Clear Power, a subsidiary of the INOXGFL Group, was rumoured to submit a draft purple herring prospectus (DRHP) to SEBI within the upcoming weeks for its Rs 5,000-crore preliminary public providing (IPO) by means of the key technique earlier this month.
INOX Clear Power will change into the $12 billion group’s fifth publicly traded entity.
INOX Clear Power is a renewable power platform that mixes photo voltaic manufacturing, together with cells and modules, with an Impartial Energy Producer (IPP) platform.
Presently, 4 firms of the INOXGFL Group are listed on the exchanges: Inox Wind Ltd, a serious wind turbine producer in India; Inox Wind Power Ltd, the holding firm that’s presently merging with Inox Wind Ltd; Gujarat Fluorochemicals Ltd, the flagship chemical firm creating merchandise for battery supplies; and Inox Inexperienced, the listed O&M firm of the renewable arm.
At 1:28 pm, the shares of Inox Inexperienced Power had been buying and selling 2.33% decrease at Rs 139.43 on NSE.
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