Indowind Energy Gets NSE, BSE Nod for ₹49.50 Crore Rights Issue

Chennai, August 26, 2025: Indowind Energy Ltd (NSE: INDOWIND, BSE: 532894) has secured in-principle approvals from both the National Stock Exchange of India (NSE) and BSE for a proposed rights issue aggregating up to ₹49.50 crore. Now the company can raise funds through a rights issue. However, key details regarding the issue, like issue price, premium, ratio, and record date, are to be announced.

Indowind Energy Limited is a renewable energy player listed on both NSE and BSE under symbol INDOWIND and code 532894, engaged in developing, operating, and maintaining wind power projects across India.

Market Snapshot

On August 26, 2025, Indowind Energy Limited’s share price opened positively at ₹18.29. It touched the day’s high at the same level before slipping into the red to record a low of ₹15.63 and eventually closing at ₹16.98, down 5.09% from the previous close of ₹17.89. Trading volume stood at 3.73 lakh shares with a turnover of ₹0.63 crore, while the company’s market capitalization was ₹218.71 crore (free float ₹115.54 crore). The stock remained closer to its lower circuit band of ₹14.31, reflecting selling pressure despite its 52-week range of ₹14.16 to ₹28.07 and a relatively high P/E ratio of 123.04.

Key Highlights of the Rights Issue

The right issue of equity shares announced by Indowind Energy Ltd has an aggregate size of up to ₹49.50 crore. The right issue is aimed at strengthening the company’s financial position and supporting its growth initiatives. The shares issued under the offer will be at a face value of ₹10 per share. Other key details, such as issue price, premium, and ratio, will be disclosed later.

The record date for determining eligible shareholders is also to be announced. Post-compliance, the shares are proposed to be listed on both BSE and NSE as this will enhance market visibility. As per the approval dated August 25, 2025, the company has 12 months to open the issue. The time will allow flexibility for fundraising.

Conditions On The Offer

While the exchanges have given the company permission for its rights issue, the consent is subject to certain conditions.

• NSE has asked the company that it should comply with all statutory and regulatory norms, including those of SEBI, RBI, and the Ministry of Corporate Affairs. The exchange has also mandated that the standard disclaimer be included in the Letter of Offer and related advertisements.
• On the other hand, BSE requires the company to make a prior disclosure of the rights issue price at least three working days before the record date and announcement of the record date with a minimum three-day advance notice.

Issue Advisors

Indowind Energy Ltd has appointed Mark Corporate Advisors Pvt. Ltd. as the lead manager for the rights issue. Bigshare Services Pvt. Ltd. will act as the registrar and will ensure smooth handling of shareholder records and applications. Furthermore, the issue will be facilitated through both leading depositories, NSDL and CDSL. Having both depositories will ensure that the investors have secure and seamless demat transaction options.

Next Steps

The company will first ensure that it complies with all the conditions laid down by the two exchanges before it makes its rights issue offer. Indowind Energy will also finalize and file the Letter of Offer incorporating the mandated disclosures, including SEBI-regulated disclaimers. Once the conditions are fulfilled, the company is expected to announce the record date and issue price shortly, followed by post-issue listing and trading approvals.

REF: https://nsearchives.nseindia.com/corporate/INDOWIND_26082025124604_CL_RI_A25.pdf

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