Inox Wind shares in news today, here's why 

Shares of Inox Wind Limited (IWL) are in news today after the firm signed a consortium agreement with a group of banks led by ICICI Bank for limits of Rs 2,200 crore. The limit is likely to be enhanced further to Rs 2,400 crore as per the working capital assessment done by the lead bank (ICICI Bank). The limits extended are largely non-fund based [bank guarantees (BGs) and letter of credits (LCs)]. 

Inox Wind shares rose 5.16% to Rs 253.90 on Friday against the previous close of Rs 241.45 on BSE.  Market cap of Inox Wind climbed to Rs 33,103 crore on BSE. Total 4.69 lakh shares of the firm changed hands amounting to a turnover of Rs 11.68 crore on BSE.

The stock has gained 127% in six months and risen 94% in 2024. The multibagger stock has climbed 411% in a year and gained 618% in two years.

"The limits have been sanctioned on the financial strength of IWL’s balance sheet and without the requirement of any corporate guarantees or any other support from Gujarat Fluorochemicals Ltd. (GFL). IWL’s recent fund raises as well as its operational ramp up have led to its balance sheet becoming net cash positive," the firm said 

"With this arrangement in place, any prior corporate guarantee or any other such support extended
to IWL by GFL stands vacated/to be vacated in the near future," the firm added. 

Inox Wind is an India-based integrated wind energy solutions provider. The company is engaged in the business of manufacture and sale of wind turbine generators (WTGs). It also provides erection, procurement and commissioning (EPC), operations and maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.