Inox Wind to Raise $111 Million to Double Capacity in India
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Inox Wind Ltd., an Indian wind turbine manufacturer, plans to raise 7 billion rupees ($111 million) from a share sale as the nation seeks to quadruple renewable power installations.
Inox, a unit of Gujarat Fluorochemicals Ltd., will use the proceeds to double its manufacturing capacity and fund working capital needs and other corporate expenses, said Group Director Deepak Asher in a phone interview from New Delhi.