Inox Green Energy Services has acquired a majority stake (51% equity shares) in I-Fox Windtechnik India’s share capital. As a result, I-Fox Windtechnik India became a subsidiary of the Company on February 24, 2023. As part of the company’s strategic decision to grow its fleet, the goal of such acquisition is to promote the company’s inorganic growth journey. This will enable the Company to capitalise on the synergies and efficiencies that will exist between the combined teams, supply chain capabilities, and technical expertise.
Inox Green Energy Services is a major provider of wind power operations and maintenance (O&M) services in India. The Company’s business is to provide long-term O&M services for wind projects. The promoters held 56.04% of the company, while Institutions and Non-Institutions held 15.34% and 28.61%, respectively.