India’s Inox GFL says wind businesses pay $50 mln to reduce debt

BENGALURU, Nov 29 (Reuters) – Indian chemicals-to-energy conglomerate Inox GFL said on Tuesday its wind businesses paid 4.11 billion Indian rupees ($50.3 million) to reduce debt.

Inox Wind Ltd (INWN.NS) and Inox Green Energy Services Ltd (INOG.NS), which made its stock market debut last week, have paid 2.50 billion rupees and 1.66 billion rupees, respectively, Inox GFL said in a statement.

Inox Wind’s net debt stood at 9.21 billion rupees, as of March 31, 2022, according to an annual report.

($1 = 81.6770 Indian rupees)

Reporting by Nandan Mandayam in Bengaluru; Editing by Shounak Dasgupta

Our Standards: The Thomson Reuters Trust Principles.

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