Shares of Inox Wind changed hands in the pre-market session on Tuesday. As many as 1.94 crore shares equivalent to 5.9 percent equity of the company changed hands.

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The stock hit 52-week high of Rs 224.80 after the deal.

CNBC-TV18 on Monday reported, citing sources, that the promoter entity of the wind energy solutions provider was likely to sell a stake worth Rs 500 crore via a block deal on Tuesday. It was reported that the offer price for the deal will be at a maximum discount of five percent against the current market price.

Inox Wind, part of the $5 billion Inox GFL Group, is a fully integrated player in the wind energy market. Inox Wind services IPPs, utilities, public sector units, and corporate investors, and three manufacturing plants in Gujarat, Himachal and Madhya Pradesh.

The Inox GFL Group includes companies like Gujarat Fluorochemicals and Inox Wind. While Gujarat Fluorochemicals is engaged in the manufacturing of specialty chemicals.

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First Published:Aug 8, 2023 9:07 AM IST