Announced Tue, 28 Jul · 15:25 IST
Authum gets NCLT nod for Wind World resolution plan, INR 350 Cr commitment
AIIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.8%1-day move
₹552.95
prior close
₹557.00
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-0.8-1.3-2.9-1.5+1.0+7.6-0.3———
Up moveDown movePending
AI summary
NCLT Ahmedabad approved the resolution plan submitted by a consortium of Inox Neo Energies (lead member) and Authum Investment for acquiring Wind World (India) Limited under the Insolvency and Bankruptcy Code. INEL will acquire the IPP, power sale undertaking, and operations and maintenance businesses of WWIL, while Authum will acquire certain identified real estate and assets. Authum's financial commitment under the plan is approximately INR 350 crore.
Likely market impact
Positive for Authum shareholders as NCLT clearance paves the way to complete the acquisition. INR 350 Cr capital deployment in a stressed-asset deal.