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 Ltd (IWEL) has confirmed the share swap ratio for its ongoing Scheme of Arrangement with Inox Wind Limited (IWL). Eligible shareholders of IWEL will receive 632 equity shares of IWL for every 10 equity shares held in IWEL. This ratio is adjusted from the original 158:10 to account for the 3:1 bonus issue done by IWL in April 2024. The scheme was approved by both companies' Boards on 25 April 2024, by shareholders and creditors in early June 2024, and was sanctioned by the NCLT Chandigarh Bench on 23 May 2025. The record date to identify eligible shareholders is 21 June 2025. There are no outstanding share warrants in IWEL as of now.
IWEL shareholders will become shareholders of Inox Wind Limited at the confirmed 632:10 ratio on the record date, effectively consolidating their holding into the listed transferee entity. This is a procedural confirmation ahead of the share issuance, with no immediate cash impact on shareholders.