New Delhi, Oct 25 (PTI) Inox Wind on Monday said its arm 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.

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"As a part of strategic business restructuring, the company's material subsidiary, IWISL has entered into a share purchase agreement today to sell the entire issued and paid up equity share capital of its...six wholly-owned subsidiaries to its fellow subsidiary, Resco Global Wind Services Private Ltd for cash consideration at par," a BSE statement said.

After the stake sale, the six companies shall cease to be 100 per cent subsidiaries of IWISL but shall continue to be step-down arms.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)