+
Inox Wind signs Rs 22 Bn consortium agreement led by ICICI Bank
POWER & RENEWABLE ENERGY

Inox Wind signs Rs 22 Bn consortium agreement led by ICICI Bank

Wind energy solutions provider Inox Wind Limited (IWL) has entered into a consortium agreement with a group of 10 banks, spearheaded by , the company announced.

The agreement grants credit facilities worth approximately Rs 22 billion, with the potential to increase to Rs 24 billion based on a working capital assessment conducted by ICICI Bank.

The shares of Inox Wind closed in the greens up 5.16%, at Rs 253.90 a piece on BSE. The company also said that these limits are predominantly non-fund based, including bank guarantees (BGs) and letters of credit (LCs). The facilities have been granted on the strength of IWL's balance sheet, without requiring corporate guarantees or additional financial support from its parent company, Gujarat Fluorochemicals Ltd. (GFL).

With this agreement, any previous corporate guarantees or financial backing extended to IWL by GFL will be vacated in the near future.

Wind energy solutions provider Inox Wind Limited (IWL) has entered into a consortium agreement with a group of 10 banks, spearheaded by , the company announced. The agreement grants credit facilities worth approximately Rs 22 billion, with the potential to increase to Rs 24 billion based on a working capital assessment conducted by ICICI Bank. The shares of Inox Wind closed in the greens up 5.16%, at Rs 253.90 a piece on BSE. The company also said that these limits are predominantly non-fund based, including bank guarantees (BGs) and letters of credit (LCs). The facilities have been granted on the strength of IWL's balance sheet, without requiring corporate guarantees or additional financial support from its parent company, Gujarat Fluorochemicals Ltd. (GFL). With this agreement, any previous corporate guarantees or financial backing extended to IWL by GFL will be vacated in the near future.

Next Story
Infrastructure Urban

Autodesk Appoints Kamolika Gupta Peres as VP, India & SAARC

Autodesk announced the appointment of Kamolika Gupta Peres as vice president, Autodesk India and SAARC business, effective June 2025. In her new role, she will lead Autodesk’s growth and scaling efforts in India and SAARC, strengthen the company’s customer and partner ecosystem, and further deepen Autodesk’s position as a trusted transformation partner in the region.Known for her agile, empathetic leadership and passion for bold, future-focused transformation, Kamolika brings a people-first approach that inspires clarity, ownership, and high performance across teams. As the leader of Ind..

Next Story
Real Estate

Major Developers Expands into RAK Central

Major Developers announced the acquisition of a prime land parcel in RAK Central, Ras Al Khaimah’s new commercial and administrative hub.  The move marks a significant milestone in the company’s expansion strategy and underscores its commitment to supporting the emirate’s infrastructure-driven ambitions under RAK Vision 2030, Ras Al Khaimah's strategic framework to achieve sustainable, diversified, and globally competitive growth. “With RAK Central, we’ve created a mega-development that is structurally aligned with regional growth, global investment patterns, and natio..

Next Story
Real Estate

Garg Realty to Invest Rs 4 Bn in Dholera for Land Aggregation Projects

Garg Realty Group, a leading real estate builder and developer based in Gurgaon, has announced an investment of over Rs 4 billion for projects in Dholera, Gujarat, over the next 3 years. The company has already invested in 20–22 acres of land in the region and, with this new capital, plans to acquire additional land to cater to Dholera’s rising demand for industrial, commercial, and residential infrastructure. The investment is backed by a mix of internal accruals and financial partnerships, reflecting the long-term commitment to the development of India’s first greenfield smart city.&nb..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?