Certified True Copy of final order of Hon''ble NCLT, Chandigarh
Awaiting price reaction for this filing.
Inox Wind Energy Ltd (IWEL) has received the final order from the NCLT Chandigarh Bench dated June 10, 2025, approving its Scheme of Arrangement with Inox Wind Ltd (IWL). Under the scheme, IWEL will amalgamate into IWL — IWEL will stand dissolved without winding up, and all its assets, liabilities, employees and business will transfer to IWL. As consideration, IWL will issue 158 equity shares (face value INR 10) for every 10 equity shares of IWEL held, and 158 share warrants for every 10 share warrants of IWEL. The rationale is consolidation of the wind energy business for better operational synergy, reduced compliance and administrative costs, and improved efficiency. The scheme was filed under Sections 230-232 of the Companies Act, 2013, and will be accounted for using the Pooling of Interest Method.
IWEL shareholders will become shareholders of IWL in the swap ratio of 158:10 and their shares in IWEL will cease to exist once the scheme becomes effective. Post-merger, IWL will be a larger combined wind energy entity, which could benefit from synergies but also concentrates the group's wind business under one listed entity (IWL).