Indian energy and automotive capital raising

Inox Green Energy Services and Wheels India initiated capital raising efforts through qualified institutional placement (QIP) issues. Inox Green Energy Services aimed to raise approximately Rs 300 crore to invest in its subsidiary, Vibhav Energy, for the acquisition of Wind World (India) operations and maintenance business. Wheels India launched a Rs 250 crore QIP intended for the repayment or prepayment of outstanding borrowings.

Following these developments, Inox Clean Energy filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India to launch an initial public offering (IPO) seeking to raise approximately $1 billion. The company plans to use the majority of these proceeds to repay or prepay outstanding borrowings. Inox Clean Energy manages a renewable energy portfolio of 9.29 GW across India and Africa.

Additionally, electric two-wheeler manufacturer Simple Energy secured Rs 1,750 crore in Series C equity funding to support expansion projects, including new manufacturing facilities and increased retail and service networks.