Inox Wind Arm Sells Entire 51% Stake In Sri Pavan Energy

In Clean News, News, Renewable Energy, Wind
inox wind

Inox Wind Infrastructure Services Ltd (IWISL), a wholly-owned subsidiary of Inox Wind, has sold its entire 51 per cent shareholding in Sri Pavan Energy for about Rs 5.1 lakh.

The company said in a regulatory filing that, “our wholly-owned subsidiary, Inox Wind Infrastructure Services Limited (IWISL) has sold its entire 51 per cent shareholding held in Sri Pavan Energy Private Limited (SPEPL) on May 22, 2020.”

“Consequent upon the said sale, SPEPL has ceased to be the subsidiary of IWISL and in turn, step down subsidiary of the company w.e.f. May 22, 2020,” it added.

SPEPL was incorporated on April 09, 2018, with a paid-up capital of Rs 10 lakh. Moreover, the company had not commenced its commercial operations, as per the last audited Balance Sheet as at March 31, 2019.

Additionally, IWISL has sold its entire 51 per cent shareholding, comprising of 51,000 equity shares of Rs 10 each held in SPEPL, at a face value for cash to Sri KPR Infra & Projects Ltd, Inox further said.

The company has disclosed the information after the closing of stock market hours.

This is a Syndicate News-Feed, edited by Clean-Future Team

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