Update on the Scheme of Arrangement between Inox Wind Energy Limited and Inox Wind Limited and their respective shareholders
Awaiting price reaction for this filing.
The National Company Law Tribunal (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 ratio of 158:10 due to a 3:1 bonus issue by IWL. All assets, liabilities, employees, contracts, and pending legal proceedings of IWEL will stand transferred to IWL upon the scheme becoming effective. The detailed certified copy of the NCLT order is awaited and will be filed with stock exchanges and the Registrar of Companies within the stipulated timelines.
For IWEL shareholders, this translates into a direct equity stake in the larger listed entity, Inox Wind Limited, at the agreed swap ratio. For IWL shareholders, the merger consolidates the group's wind energy operations under a single listed entity, which can simplify the corporate structure and potentially improve operational efficiencies, though it will also result in equity dilution.