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

The NCLT Chandigarh Bench has approved the Scheme of Arrangement between Inox Wind Energy Limited (IWEL, the Transferor Company) and Inox Wind Limited (IWL, the Transferee Company) on 23rd May 2025. Under the scheme, IWEL will merge into IWL with an Appointed Date of 1st July 2023. Shareholders of IWEL will receive 632 equity shares of IWL (face value Rs. 10 each) for every 10 equity shares held in IWEL, adjusted from the original 158:10 ratio to account for a 3:1 bonus issue by IWL. All assets, liabilities, contracts, employees, and pending proceedings of IWEL will transfer to IWL without further act or deed. The scheme was approved by shareholders and creditors in meetings held in June 2024, and no objections from regulators like SEBI, RBI, MNRE, CCI, or the Income Tax Department remained after the only objection (from M/s Dhiman) was withdrawn.