Inox Wind Ltd updates on stake acquisition in Resco

As a part of its strategic business plan, Inox Wind Ltd has entered into a share purchase agreement today with its subsidiary, Inox Wind Infrastructure Services Limited (IWISL) to acquire the entire issued and paid up equity share capital of Resco Global Wind Services Private Limited (Resco), a step down subsidiary company.

Consequent upon the said acquisition, Resco Global Wind Services Private Limited which was earlier a step down subsidiary shall become the Company's direct wholly owned subsidiary.

Shares of Inox Wind Limited was last trading in BSE at Rs. 128.25 as compared to the previous close of Rs. 128.80. The total number of shares traded during the day was 69816 in over 1513 trades.

The stock hit an intraday high of Rs. 134.65 and intraday low of 127.55. The net turnover during the day was Rs. 9079982.00.

Source : Equity Bulls

Keywords

InoxWind INE066P01011 HeavyElectricalEquipment Acquisition