Scheme of merger between Inox Wind Energy and Inox Wind approved
Awaiting price reaction for this filing.
The National Company Law Tribunal (NCLT), Chandigarh Bench has approved the scheme of merger of Inox Wind Energy Ltd (IWEL) into Inox Wind Ltd (IWL), with the order dated June 10, 2025. As a result, Inox Wind's liabilities will reduce by approximately Rs 2,050 crore, strengthening its balance sheet. Under the swap ratio, IWEL shareholders will receive 632 equity shares of IWL (face value Rs 10 each) for every 10 equity shares of IWEL (face value Rs 10 each), with shares expected to be credited within 1-1.5 months. The merger eliminates the holding company structure, giving INOXGFL Group promoters direct holding in Inox Wind and simplifying the wind business vertical.
For IWEL shareholders, this means their shares will be swapped for IWL shares at the approved ratio — effectively converting their holding from a holding company into the operating company. The Rs 2,050 crore debt reduction at IWL could improve financial metrics and potentially support valuation, while the simpler structure may appeal to investors.