Indowind Energy Ltd.’s shares experienced an 8.36 per cent decline even after the company announced the full clearance of outstanding dues to EXIM Bank of India. Both parties are also in the process of withdrawing cases filed against each other.
As part of the settlement, the Bank will return 40,00,000 equity shares of pledged by the promoter. This move will increase the promoter and promoter group holdings from 47.07 per cent to 50.77 per cent.
The share went down by 8.36 per cent to Rs. 13.60 at 11:05 a.m. on BSE.