Inox Wind Energy Ltd, on 4 December, announced that it had infused Rs 800 crore in its subsidiary company, Inox Wind Limited, to assist it in clearing a portion of its outstanding debt.

Earlier, the company had raised Rs 800 crore through the sale of equity shares of Inox Wind through a block deal.

In its regulatory filing, the company said, “Inox Wind Energy Limited completes infusion of Rs 800 crore into Inox Wind Ltd. The funds received will be utilised to repay Inox Wind’s existing debt.”

Kailash Tarachandani, the CEO of Inox Wind, said that the current round of fundraising done by Inox Wind’s promoter and the capital infused by the company is a significant step towards their aim of becoming a net-debt-free company.

INOXGFL Group is a company that operates across two key segments: chemicals and renewable energy. The group has four listed companies, including Inox Wind Limited, Inox Green Energy Services Limited, Gujarat Fluorochemicals Limited (GFL), and Inox Wind Energy Limited.