Update on the Scheme of Arrangement between Inox Green Energy Services Limited and Inox Renewable Solutions Limited and their respective shareholders ( Scheme )
INOXGREEN · price
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The NCLT Ahmedabad Bench has approved the Scheme of Arrangement between Inox Green Energy Services Limited (IGESL) and Inox Renewable Solutions Limited (IRSL) on 13th March 2026. The scheme provides for the demerger of IGESL's Power Evacuation Business into IRSL, with an appointed date of 1st October 2024. Under the approved share entitlement ratio, shareholders of IGESL will receive 122 equity shares of IRSL (face value INR 10) for every 1,000 equity shares held in IGESL, and a similar ratio applies to convertible warrants. Post-demerger, IGESL will operate as a pure-play wind turbine O&M services company, while IRSL will house the Power Evacuation and EPC business, with both expected to be listed on BSE and NSE. The detailed/final NCLT order is awaited and will be filed with stock exchanges once received. Some tax demands are pending on both companies, with IRSL facing a Rs. 96.80 crore income tax demand (currently stayed).
IGESL shareholders will receive IRSL shares at a 122:1000 ratio in addition to their existing IGESL holdings, effectively giving them a stake in the demerged Power Evacuation business. The demerger is aimed at unlocking value by letting each entity focus on its core business, but near-term stock movement will depend on the awaited detailed order and the effective date of the scheme.