Key Quantitative Figures
- Amount raised through Rights Issue: Rs. 1249.33 Crore
- Date of fund raising: 21st August, 2025
- Funds utilized for debt prepayment/repayment: Rs. 159.00 Crore
- Funds utilized for investment in Inox Renewable Solutions Limited: Rs. 273.72 Crore
- Final issue expenses: Rs. 6.61 Crore (vs. originally allocated Rs. 6.63 Crore)
- Minor adjustment amount: Rs. 0.02 Crore
Utilization Breakdown
The proceeds have been fully utilized in line with the objects stated in the Letter of Offer:
- Repayment/redemption of NCPRPS issued to the Promoter: Completed with no deviation
- Prepayment and/or repayment of certain borrowings availed by the Company: Rs. 159.00 Crore utilized, completed with no deviation
- Investment in Inox Renewable Solutions Limited (IRSL): Rs. 273.72 Crore utilized for repayment/pre-payment of borrowings availed by IRSL including redemption of non-convertible debentures
- Issue expenses: Finalized at Rs. 6.61 Crore vs. Rs. 6.63 Crore allocated, with remaining Rs. 0.02 crore adjusted to general corporate purposes (GCP) expenses as permitted by the offer document
Monitoring and Oversight
- Monitoring Agency: CARE Ratings Limited
- Audit Committee Review: The statement was reviewed and noted by the Audit Committee in their meeting held on 7th August, 2026
- Auditor Comments: None
Financial Impact
No financial impact from deviation/variation as the company confirmed nil deviation in fund utilization. All objects have been completed as per the original allocation.