Scheme of merger between Inox Wind Energy and Inox Wind approved

The National Company Law Tribunal (NCLT), Chandigarh Bench, has approved the scheme of merger between Inox Wind Energy Limited (IWEL) and Inox Wind Limited (IWL) via its order dated June 10, 2025. As a result, IWEL will be amalgamated into IWL, simplifying the wind business vertical of the INOXGFL Group by removing the holding company structure. A key financial benefit is the reduction of IWL's liabilities by approximately Rs 2,050 crore, making its balance sheet leaner and stronger. Under the swap ratio, IWEL shareholders will receive 632 equity shares of IWL (face value Rs 10) for every 10 equity shares of IWEL held, with the new shares expected to be credited within 1 to 1.5 months. Post-merger, INOXGFL Group promoters will directly hold shares in Inox Wind instead of through an intermediary holding company.