In 2024, Indowind Energy Limited has seen a significant increase in its stock price, with a gain of 45%. Over the past year, the stock has delivered impressive returns of 194.23%. On Wednesday, the NSE benchmark Nifty50 Index started flat but eventually reached a new record high before experiencing selling pressure and closing lower. The auto, banking, IT, and metals sectors all saw selling, with auto stock M&M experiencing its largest single-day decline in over four years due to a price cut. Amidst this, Indowind Energy announced a rights issue to raise funds. The company develops wind farms, manages wind assets, and sells Green Power to utilities and corporates. The rights issue will raise up to Rs. 4,900 Lakhs through the issuance of 2,14,66,956 equity shares. The record date for eligibility is set for Tuesday, July 16, 2024, with the issue opening on Friday, July 26, 2024, and closing on Monday, August 05, 2024. The rights issue is offered at a discount of 31.5% to the current market price of Rs 29.60 per share. Each shareholder will receive one rights equity share for every five fully paid-up equity shares held. Please note that this information is for informational purposes only and not investment advice.