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Indowind Energy spurts on inking memorandum of compromise with ICICI Bank

29 Nov 2011 Evaluate

Indowind Energy is currently trading at Rs. 8.05, up by 0.29 points or 3.74% from its previous closing of Rs. 7.76 on the BSE.

The scrip opened at Rs. 7.80 and has touched a high and low of Rs. 8.05 and Rs. 7.80 respectively. So far 659292 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 36.65 on 18-Jul-2011 and a 52 week low of Rs. 7.05 on 22-Nov-2011.

Last one week high and low of the scrip stood at Rs. 8.05 and Rs. 7.30 respectively. The current market cap of the company is Rs. 69.64 crore.

The promoters holding in the company stood at 27.96% while Institutions and Non-Institutions held 5.12% and 33.49% respectively.

Indowind Energy after reaching to an understanding with ICICI Bank has inked a Memorandum of Compromise (MOC) with later in order to settle all its outstanding disputes pending in various legal forums. MOC has been executed by both the parties and promoter group on November 09, 2011 for clearing the litigated rental obligations on wind mills till date and all commitments on preference shares.

Recently, Indowind Energy’s promoter and promoters group of companies -- Subuthi Investments -- has increased their shareholding in the company by purchasing 9,00,000 shares of the company in the open market on November 23, 2011. Following this acquisition, the percentage of share holding of promoter and promoters group in Indowind Energy is increased from 30.41% to 31.41%.

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 and financial resources and experience in the operations of wind farms.

Indowind Energy Share Price

10.63 0.44 (4.32%)
17-Apr-2026 16:59 View Price Chart
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