Update on Scheme of Arrangement between Inox Wind Energy Limited and Inox Wind Limited and their respective shareholders

Inox Wind Energy Ltd (IWEL) informed stock exchanges that the NCLT Chandigarh Bench has approved the Scheme of Arrangement between IWEL (Transferor Company) and Inox Wind Limited (IWL, Transferee Company) on 23rd May 2025. The detailed final order is awaited and will be filed with stock exchanges and on the company website once available. Under the scheme, IWEL shareholders will get 632 equity shares of IWL (Rs. 10 each) for every 10 equity shares of IWEL held, with the Appointed Date set as 1st July 2023. The exchange ratio was revised from the originally approved 158:10 to 632:10 to account for a 3:1 bonus issue undertaken by IWL. The scheme had earlier received approval from equity shareholders, secured and unsecured creditors of IWL, along with no-objections from BSE, NSE, ROC/RD, Official Liquidator, and was not opposed by ITD, SEBI, RBI, CCI, MNRE, CERC, or HERC.