Indowind Energy has announced a rights issue of ~₹49.50 Cr.

Funds are allocated to develop a new 4 MW solar project in Karnataka, diversifying its business, and repay ~₹11 Cr in promoter loans.

Recent annual revenue declined to ~₹33.51 Cr from ~₹38.81 Cr, with profit after tax falling significantly to ~₹0.96 Cr from ~₹7.27 Cr, largely due to lower wind velocity and tax adjustments.

Operational risks include aging windmills facing potential policy changes and ongoing arbitration with a key supplier.