Rakesh Jhunjhunwala: Market Drivers: Jhunjhunwala Sells SAIL Stake; Inox Wind crashes 4%

NEW DELHI: Shares of Inox Wind fell 4 percent on Wednesday after the company said it is raising Rs 402 crore through preferential issuance of equity shares and convertible warrants.

The firm said that its promoters will inject Rs 150 crore, while a foreign company, Samena Green, will inject Rs 152.5 crore. Lend Lease Company will infuse the rest Rs 100 crore, he added.

Inox Wind offers shares at a price of Rs 126 and warrants at Rs 122. An amount equal to at least 25% of the issue price will be paid at the time of subscription and assignment of each convertible warrant and the remaining 75% will be payable at the time of exercise of said Convertible Certificate.

big order

PSP Projects said it has received new work orders worth Rs 938.76 crore (excluding GST), which includes new work orders worth Rs 511.39 crore (including order worth Rs 503.56 crore for “Ahmedabad Sports Complex Construction” project) and Rs 327.39 crore in FY2021-22 and FY 2022-23 respectively and additional scope on existing contracts worth Rs 99.98 crore in FY fiscal 2021-22.

“With the receipt of the above orders, the total work orders received at the end of FY2021-22 amounts to Rs. 1802.23 million rupees. In addition, we are pleased to inform you that the main orders of the above are from government, residential and institutional categories,” the company said.

After the update, the stock jumped more than 5 percent.

Browse without RJ
Rakesh Jhunjhunwala has apparently sold some or all of his stake in

(), show the latest share data published by the company.

Jhunjhunwala previously held a 1.1 percent stake in the company. His name no longer appears on the list of shareholders now. Companies are required to publish the names of shareholders only if their holding is greater than 1 percent.

Following the update, shares fell more than 2 percent in trading on Wednesday.

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