Indowind Energy has repaid the term loan of Rs 5.85 crore, which the company has availed it from Andhra Bank’s Ahmedabad branch during March 2009. The company has fully repaid the amount and the said account has been closed now.
Recently, Indowind Energy had secured its board’s nod for transfer of some of the assets of the company in favor of its subsidiary company. The board also approved to issue 2,50,00,000 equity shares (which carries no dividend and less voting rights) to promoters / friends / relative of the promoters. The board took this decision at its meeting held on December 08, 2010.
Indowind Energy is engaged in selling ready-to-buy wind farm projects to corporates as well as state governments. It has strong capabilities and expertise in areas like project management, robust managerial & financial resources and experience in the operations of wind farms.
