Inox Green Share Price Jumps 15% After ₹550 Crore Wind World India Deal; What Is Driving The Rally?
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Inox Green shares rallied on Friday after the company completed payment for the acquisition of Wind World India's 4.5 GW wind O&M business through its subsidiary Vibhav Energy.
Inox Green Energy Services shares jumped as much as 15% on Friday, October 9, after the company completed payment for the ₹550 crore acquisition of Wind World India's wind operations and maintenance business.
The stock climbed to an intraday high of ₹131.80 before closing 12.36% higher at ₹129.30 on the NSE. Inox Green had settled at ₹115.08 in the previous session.
The rally came after Inox Green said its subsidiary Vibhav Energy Private Limited had completed the ₹550 crore payment for the acquisition of Wind World India Limited's 4.5 GW wind O&M business. The acquired portfolio generated revenue of around ₹580 crore in FY26 and has a contracted annual price escalation of about 5%.
The transaction will take Inox Green's overall managed portfolio to around 13.3 GWp, including another investment involving about 2 GW of wind O&M assets. The company is targeting more than 20 GW of managed capacity.
Inox Green Completes ₹550 Crore Wind World India Deal
Vibhav Energy completed the payment on October 6 under a Business Transfer Agreement with Wind World India. The wind O&M business will be transferred to Vibhav as a going concern under a resolution plan approved by the National Company Law Tribunal.
Inox Green will hold a 75% stake in Vibhav after the transfer and implementation of the resolution plan.
The 4.5 GW portfolio includes wind assets across Karnataka, Maharashtra, Tamil Nadu, Rajasthan and Gujarat. Its customers include Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc.
The acquisition takes Inox Green's managed portfolio to around 13.3 GWp, including another investment involving about 2 GW of wind O&M assets.
Inox Green Shares Rebound After Thursday's Fall
Friday's rally also comes after a sharp fall in Inox Green shares in the previous session. The stock had dropped more than 15% on Thursday before closing at ₹115.08.
The shares reversed much of that decline on Friday, climbing more than 15% from the previous close and touching ₹131.80 during the session.
Inox Green is the renewable energy operations and maintenance arm of the INOXGFL Group. The company provides O&M services for wind projects and has been adding capacity through acquisitions as it works towards a managed portfolio of more than 20 GW.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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