Noida-based wind energy solutions company Inox Wind’s board of directors has approved raising ₹12.5 billion (~$145.16 million) through the issuance of equity shares worth ₹10 (~$0.12) per share to its existing shareholders.

The timing and other terms of the rights issue are yet to be decided.

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.

Inox Wind reported its highest-ever quarterly profit in the fourth quarter of the financial year (FY) 2025. The company reported a profit after tax of ₹1.9 billion (~$22.2 million), a 391% year-over-year (YoY) increase from ₹390 million (~$4.5 million). Its revenue increased 130% to ₹13.11 billion (~$153 million) from ₹5.69 billion (~$66.6 million) in the same period of the previous year.

During FY 2025, the company executed over 3 GW of projects across India. Inox Wind’s order book grew to 3.2 GW, a 21% YoY increase from 2.6 GW.

In June, the National Company Law Tribunal, Chandigarh bench, approved the merger of Inox Wind and Inox Wind Energy. The merger will reduce Inox Wind’s liabilities by ₹20.5 billion (~$239 million), strengthening the company’s balance sheet.

In September last year, 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 comprised ten banks, as well as several marquee private and foreign banks. The limit would likely be enhanced to ~₹24 billion (~$287.49 million) as per ICICI Bank’s working capital assessment.