Inox Wind Energy Limited has informed the Exchange that Record date for the purpose of Merger/HiveOff is 21-Jun-2025.
Awaiting price reaction for this filing.
Inox Wind Energy Limited (IWEL) has fixed Saturday, 21st June 2025 as the record date for its Scheme of Arrangement with Inox Wind Limited (IWL), under Sections 230 to 232 of the Companies Act, 2013. Under the scheme, IWEL shareholders will receive 632 fully paid-up equity shares of Inox Wind Limited (face value Rs. 10) for every 10 equity shares held in IWEL (face value Rs. 10). The decision was taken by the IWL Committee of the Board of Directors on 11th June 2025, pursuant to a disclosure dated 25th April 2024. Both companies belong to the INOXGFL Group, making this an intra-group merger.
Shareholders of IWEL holding shares as of 21st June 2025 will be entitled to receive IWL shares at the 632:10 exchange ratio. Post-merger, IWEL will cease to exist as a separate listed entity and shareholders will hold shares of Inox Wind Limited instead.