Certified true copy of the final order of the Hon''ble NCLT, Chandigarh
Awaiting price reaction for this filing.
Inox Wind Limited informed the exchanges that on June 10, 2025 it received the certified copy of the final order from the NCLT Chandigarh Bench, approving the Scheme of Arrangement for amalgamation of Inox Wind Energy Limited (IWEL, the transferor) into Inox Wind Limited (IWL, the transferee). Under the approved scheme, shareholders of IWEL will receive 158 equity shares of IWL for every 10 equity shares held, and a similar 158:10 ratio applies for share warrants (at an adjusted issue price of INR 54 per warrant). IWEL is engaged in renewable energy generation and holds strategic business interests, while IWL manufactures wind turbine generators and provides EPC and O&M services. The rationale is consolidation of the wind energy business to improve operational efficiency, synergies, and reduce administrative and compliance costs. Upon the scheme becoming effective, IWEL will stand dissolved without winding up, and IWL's authorised share capital will be enhanced to absorb IWEL's capital.
For IWEL shareholders, this is effectively a share-swap-driven merger into IWL at the 158:10 ratio, making them shareholders of the larger listed entity IWL. For IWL shareholders, the consolidation brings IWEL's assets and businesses under one listed roof, which should simplify group structure, reduce costs, and improve operational focus, though existing shareholding will be diluted by the new shares issued to IWEL shareholders.