Inox Wind arm inks pact to divest stake in six firms to subsidiary

Inox Wind Infrastructure Services Ltd (IWISL) has inked a share purchase agreement to sell its entire equity stake in six firms to wholly-owned subsidiary Resco Global Wind Services. The six arms are Marut-Shakti Energy India, Sarayu Wind Power (Kondapuram) Pvt Ltd, Sarayu Wind Power (Tallimadugula) Pvt Ltd, Vinirrmaa Energy Generation, Satviki Energy Pvt Ltd and AABPWNE RBRK Investments Ltd. After the stake sale, the six companies shall cease to be 100% subsidiaries of IWISL but shall continue to be step-down arms.