Inox Green Energy Services Limited — Important, 29-11-2024: Diversification/Disinvestment

Inox Green Energy Services Limited has successfully completed the divestment of its entire equity stake in its wholly owned subsidiary, Nani Virani Wind Energy Private Limited (NVWEPL), to IGREL Renewables Limited, a related party. This transaction, conducted at a face value of ₹10 per share, follows shareholder approval received at the recent Extraordinary General Meeting. With the completion of this sale, NVWEPL is no longer a subsidiary of the Company.

This strategic move may reinforce Inox's focus on its core energy services, potentially improving financial performance. Investors might view this as a positive shift towards optimizing asset management, enhancing overall operational efficiency while also considering related party dynamics as a factor in future evaluations.