Certified True Copy of final order of Hon''ble NCLT, Chandigarh
Awaiting price reaction for this filing.
The National Company Law Tribunal (NCLT), Chandigarh Bench has approved the Scheme of Arrangement for the amalgamation of Inox Wind Energy Limited (IWEL) into Inox Wind Limited (IWL). Both companies belong to the Inox Group and are listed on BSE and NSE. Under the scheme, IWEL will merge into IWL with a share swap ratio of 158 equity shares of IWL for every 10 equity shares of IWEL. The same ratio applies to outstanding share warrants (158 IWL warrants for every 10 IWEL warrants). IWEL will stand dissolved without being wound up once the scheme becomes effective. The goal of the merger is to consolidate the wind energy business, improve operational efficiency, and reduce overall administrative and compliance costs.
IWEL shareholders will receive IWL shares at the swap ratio and become shareholders of Inox Wind Limited. IWEL will cease to exist as a separate listed entity after the merger takes effect. The combined entity is expected to benefit from synergies and lower costs, which could be value-accretive for shareholders over time.