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Inox Wind shareholders will get 3 more shares for every one held
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The stock of the wind power producer with a capacity of 2.5 gigawatts (GW) of electricity have been on a tear with a rally of over 26% in the last one month and a over a six-fold increase in share price in the last one year.
Shareholders of the Noida-based Inox Wind will get three bonus shares for every one that they already own, thanks to the approval from the board of directors on April 25.
“The issuance of bonus shares will not only bolster the capital base of the Company without any cash outflow but will also enhance the liquidity of Inox Wind’s shares, broadening participation of a wider set of investors,” the company said in a filing to the stock exchanges.
The stock of the wind power producer with a capacity of 2.5 gigawatts (GW) of electricity have been on a tear with a rally of over 26% in the last one month and a over a six-fold increase in share price in the last one year.
In comparison, shares of Suzlon, which has a capacity of 14 GW, have gained over 5 times in the last one year.
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