Inox Wind sells Rs 175 cr stake in EPC subsidiary at ₹7,400 cr valuation
The company did not disclose who these investors are. This latest development comes after the National Company Law Tribunal approved the merger of Inox Wind Energy (IWEL) into IWL on June 10, 2025, strengthening the company's balance sheet by reducing liabilities by about ₹2,050 crore.
Last September, Inox Renewable Solutions had approved a ₹350 crore equity raise from investors for a single-digit stake. Inox Renewable Solutions offers end-to-end services for wind projects right from the conceptualisation stage up to project commissioning, as well as the construction of transmission infrastructure to evacuate power from such projects, offering turnkey solutions to developers on a plug-and-play basis. It provides services across India with a strong presence in Western India.
It is developing common infrastructure on the multi-gigawatt scale at sites across the country, to be utilised for future renewable projects. Inox Wind's scrip ended at ₹144.40 up 3.18% on the BSE, Tuesday.
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News18
26 minutes ago
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AI-powered ponzi scheme busted, two held in Rs 850 cr fraud
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Mint
an hour ago
- Mint
NCLT seeks Vedanta reply after petroleum ministry flags co's demerger plan
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The Hindu
2 hours ago
- The Hindu
Cyberabad police bust ₹850 crore investment fraud, two arrested
An organised financial fraud network that duped over 3,000 investors across several states through AI-powered investment platforms and ponzi-style schemes was dismantled by the Cyberabad police. The racket, which operated under the guise of stock market prediction software and fabricated trading dashboards, is estimated to have fetched ₹850.59 crore between 2022 and 2025 for the criminals. Two key accused, identified as Gaddam Venugopal, a director of A.V. Solutions and Srinivas Analytical Pvt. Ltd., a resident of Manikonda and native of Prakasam, Andhra Pradesh and Shreyas Paul, 55, an employee of A.V. Solutions, a resident of Kondapur and a native of Ballari, Karnataka, were arrested in Hyderabad on August 19. Police said more than 20 consultants, agents, technical developers and website administrators were part of the network, which was run through a web of fake companies including IIT Capital Technologies, A.V. Solutions, Srinivas Analytics Pvt. Ltd. and Trade Bulls Technology Pvt. Ltd. Investigators revealed that the accused created false credibility by projecting fake SEBI, NSE and BSE registrations, hosting lavish investment seminars and maintaining premium office spaces. Middle-class families, working professionals and retired individuals were the prime targets, lured with referral-based recruitment and fabricated dashboards displaying non-existent profits. The gang promised 7% monthly returns (84% annually) through fake AI-based predictions. According to police, funds collected were funnelled through 21 bank accounts, layered through multiple channels and laundered into real estate, luxury vehicles and gold. The scale of the fraud left hundreds of families devastated, with retirement savings and education funds wiped out, and many victims driven into debt. So far, police have seized high-end vehicles, electronic devices, financial documents, property papers and a database of 3,164 victims. The accused are also believed to have destroyed digital evidence and intimidated investors who attempted to lodge complaints. Cyberabad police urged the public to remain cautious against fraudulent investment platforms promising unrealistic returns and advised investors to verify SEBI registrations through official portals. A case has been registered and further investigation is under way.
