New Delhi, Oct 29 (PTI) Inox Wind on Friday said it has got its shareholders' approval to issue preference shares worth Rs 1,100 crore to its promoters in an extraordinary general meeting (EGM) held on Friday.

All the seven resolutions listed on the agenda of the EGM on Friday (October 29) are passed with requisite majority by shareholders, according to a BSE filing.

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The shareholders approved the proposal of issuance of 0.01 per cent non-convertible non-cumulative, participating, redeemable preference shares of the face value of Rs 10 each to Inox Wind Energy Ltd, the company's promoter.

The issue will be for consideration other than cash, at par, for an aggregate value not exceeding Rs 1,000 crore on a private placement basis.

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The shareholders also approved the proposal of issuance of 0.01 per cent non-convertible, non-cumulative, participating, redeemable preference shares of the face value of Rs 10 each to Devansh Trademart LLP, an entity forming part of the promoter group.

The issue will be for cash consideration, at par, for an aggregate value not exceeding Rs 100 crore on a private placement basis.

The members also approved an enabling resolution for raising funds up to Rs 200 crore by way of private placement or preferential issue or public issue or through any other permissible mode and/or combination thereof, including by way of qualified institutional placement.

The shareholder has also authorised Inox Wind Infrastructure Services Ltd (IWISL), a material subsidiary of the company, to transfer through 'slump sale' of its erection, procurement and commissioning (EPC) business to Resco Global Wind Services Pvt Ltd, currently a wholly-owned subsidiary of IWISL.

The members have also approved a proposal to increase the authorised capital of the company in the EGM. HRS hrs

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