Inox Wind announces amalgamation of Inox Wind Energy into parent company

Inox Wind, a wind energy solutions provider in India, announced an approved plan for the amalgamation of Inox Wind Energy Limited into its parent company, Inox Wind Limited.

The board of directors approved this strategic decision on 12th June 2023 and set the appointed date for the merger as 1st July 2023.

The proposed consolidation is based on independent fairness and valuation opinions and follows the process laid out under the Companies Act, 2013 and Securities and Exchange Board of India Regulations. It includes a swap ratio of 158 equity shares of Inox Wind Limited for every 10 equity shares of Inox Wind Energy Limited. Similarly, 158 share warrants of Inox Wind Limited with an issue price of INR 54 each will be issued for every 10 share warrants of Inox Wind Energy Limited with an issue price of INR 847 each.

The merger aims to simplify and streamline the group’s structure by reducing the number of listed entities, which is expected to result in a larger, stronger entity with a more robust shareholder base.

The board believes that this consolidation will be in the best interest of the shareholders of both companies, leading to more straightforward and efficient operations through a single listed company and resulting in a considerably stronger shareholder base.

The scheme aims to foster improved operational synergy, focused operational efforts, standardized and simplified processes, and productivity enhancements. These measures are anticipated to boost overall operational efficiency and effectiveness across the combined operations while reducing operational, administrative, and compliance costs.