Noida-based wind energy solutions company Inox Wind has announced the redemption of its preference shares, worth ₹5.6 billion (~$65.12 million).

In a stock exchange disclosure, the company said it has fully redeemed 560 million unlisted, non-convertible, non-cumulative, participating, and redeemable preference shares.

These shares carried a coupon of 0.01% and had a face value of ₹10 (~$0.12) each. The redemption was executed at par.

Inox Leasing and Finance, Inox Wind’s promoter company, held the redeemed preference shares. According to the disclosure, the funds for the redemption were sourced from the proceeds raised through a fresh rights issue of equity shares.

Inox Wind clarified that the redemption was carried out in line with the objectives of the rights issue. Post the completion of this process, Inox Wind stated that it no longer has any outstanding preference shares on its books.

Inox Wind is part of the Inox GFL Group. The company operates four wind turbine generator production plants in Gujarat and Madhya Pradesh, with a total manufacturing capacity of 1.5 GW.

The company provides infrastructure services encompassing the complete lifecycle of wind projects. These services include wind resource assessment and site screening, land acquisition and infrastructure development, development and construction of power evacuation infrastructure, and commissioning and stabilization of projects.

Recently, Inox Wind reported a revenue of ₹8.63 billion (~$98.57 million) in the first quarter of the financial year 2026, a 32% year-over-year increase from ₹6.55 billion (~$74.87 million). Earnings before interest, taxes, depreciation, and amortization also rose 39% YoY to ₹2.2 billion (~$25.14 million) from ₹1.58 billion (~$18.05 million).

In July this year, Inox Wind’s board of directors approved raising ₹12.5 billion (~$145.16 million) through the issuance of equity shares worth ₹10 (~$0.12) per share to its existing shareholders.

Last September, Inox Wind Energy signed an agreement with a consortium of banks led by ICICI Bank for a financing facility of ₹22 billion (~$263.54 million). The consortium comprises ten banks, as well as several marquee private and foreign banks.