Confirmation of entitlement of shares pursuant to Scheme of Arrangement between Inox Wind Energy Limited and Inox Wind Limited and their respective shareholders
Awaiting price reaction for this filing.
Inox Wind Energy Limited (IWEL) has confirmed the share entitlement ratio for its shareholders under the approved Scheme of Arrangement with Inox Wind Limited (IWL). Eligible IWEL shareholders will receive 632 equity shares of IWL (face value Rs. 10) for every 10 equity shares held in IWEL. The record date for this entitlement is 21st June 2025. The original swap ratio was 158 IWL shares for every 10 IWEL shares, which has been adjusted to reflect IWL's 3:1 bonus issue from April 2024. The scheme was approved by NCLT Chandigarh Bench on 23rd May 2025. IWEL has no outstanding share warrants as on date.
IWEL shareholders will receive a substantial number of IWL shares (a heavy share entitlement ratio) as the scheme takes effect, effectively transforming their IWEL holdings into IWL holdings. This is a confirmation of an already-approved arrangement, so the key action point for investors is the 21st June 2025 record date to be eligible for the share entitlement.