Fixation of record date pursuant to Scheme of Arrangement
Awaiting price reaction for this filing.
Inox Wind Limited has fixed Saturday, 21st June 2025 as the record date for its Scheme of Arrangement with Inox Wind Energy Limited (IWEL), under Sections 230-232 of the Companies Act, 2013. Under the scheme, IWEL shareholders will receive 632 equity shares of Inox Wind (face value Rs. 10) for every 10 equity shares held in IWEL (face value Rs. 10). The record date is used to identify IWEL shareholders who are entitled to receive new IWL shares as per the approved share exchange ratio. This indicates the scheme has received the necessary approvals and is now moving into the implementation stage.
IWEL shareholders holding shares on the record date (21st June 2025) will be eligible to receive new IWL shares at the 632:10 swap ratio, which could lead to share issuance and potential dilution for existing IWL shareholders. The stock may react based on market perception of the swap ratio and the strategic value of combining the two entities.