NCLT Approves Merger of Inox Wind Energy with Inox Wind

The National Company Law Tribunal (NCLT), Chandigarh Bench, has approved the merger between Inox Wind Energy Ltd. (IWEL) and Inox Wind Ltd. (IWL).

The move is set to simplify the business structure of the INOXGFL Group while significantly bolstering IWL’s financial position. The merger is set to reduce IWL’s liabilities by approximately INR 2,050 crore, significantly strengthening its balance sheet. It also eliminates the earlier holding company structure, enabling a more direct shareholding pattern and increased operational agility for the Group’s wind vertical.

The integration is expected to deliver multiple benefits, including enhanced financial robustness, cost savings through economies of scale, optimised resource utilisation, and streamlined compliance procedures.

According to the company, the consolidation will also lead to the elimination of redundant operations and further boost transparency and corporate governance across the wind business.

Under the terms of the merger, IWEL shareholders will receive 632 equity shares of IWL for every 10 shares of IWEL, with the record date to be announced shortly. The share allocation is expected to be completed within 1 to 1.5 months, subject to necessary regulatory clearances.

Commenting on the development, Devansh Jain, Executive Director of the INOXGFL Group, said, “This is a landmark moment that concludes two years of dedicated effort. The merger not only enhances financial strength but also positions Inox Wind for exponential growth. We believe this move benefits all stakeholders, especially IWEL’s minority shareholders.”

Jain also highlighted the Group’s broader vision aligned with India’s energy transition goals. “We are committed to expanding across various clean energy segments. The approval by NCLT further empowers us to capitalise on upcoming large-scale opportunities in the sector,” he added.

As per the firm, with a market capitalisation of approximately USD11 billion, the Group operates four listed entities and is rapidly expanding its solar and wind energy footprint through its subsidiaries Inox Solar and Inox Neo Energies.