Fixation of record date pursuant to the Scheme of Arrangement
Awaiting price reaction for this filing.
Inox Wind Energy Limited (IWEL) has fixed Saturday, 21st June 2025 as the record date to identify equity shareholders entitled to receive shares under its scheme of arrangement with Inox Wind Limited (IWL). Under the approved swap ratio, every 10 equity shares of IWEL (face value Rs. 10) will be exchanged for 632 equity shares of IWL (face value Rs. 10). The scheme, originally disclosed on 25th April 2024, involves IWEL as the transferor company and IWL as the transferee company, and is being carried out under Sections 230-232 of the Companies Act, 2013. The disclosure has been made to BSE and NSE under SEBI Listing Regulations 30 and 42.
Investors holding IWEL shares on the record date (21st June 2025) will be eligible to receive IWL shares at the 632:10 swap ratio, effectively consolidating the wind energy business under Inox Wind Limited. Shareholders should expect shareholding in IWEL to be replaced by IWL shares post the scheme becoming effective.