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INOXGFL Group, a leading player in India’s energy transition sector, announced that the National Company Law Tribunal (NCLT), Chandigarh Bench, has approved the scheme of arrangement between Inox Wind Energy Ltd. (IWEL) and Inox Wind Ltd. (IWL) as per its order dated June 10, 2025. Following this approval, IWEL will be amalgamated into IWL, marking a significant step towards consolidating the Group’s wind energy business.
The merger is set to strengthen the financial position of IWL by reducing its liabilities by approximately Rs 2,050 crores, while unlocking operational synergies through economies of scale, better resource utilization, and streamlined regulatory compliance. This consolidation simplifies the business and shareholding structures, with INOXGFL promoters gaining direct holdings in Inox Wind. Shareholders of IWEL will receive 632 equity shares of IWL for every 10 equity shares held, expected to be credited within 1 to 1.5 months, subject to regulatory approvals. The move is anticipated to enhance overall stakeholder value by driving financial and operational efficiencies.
Mr. Devansh Jain, Executive Director, INOXGFL Group, said, “We thank the Hon’ble NCLT for approving the scheme of merger of IWEL into IWL. The merger is a significant achievement in the exciting journey of the INOXGFL Group, and brings closure to the last two years of efforts which our team had invested in this process. It is also a milestone for our consolidated wind business, in which over the same period we have been able to deliver a remarkable operational and financial turnaround, and establish a strong base for exponential growth over the coming years. We believe that this merger is beneficial for all stakeholders, including the minority shareholders of IWEL, as well as for IWL, since it results in a leaner and more robust balance sheet for the company.
As a Group which is at the forefront of energy transition in India, we continue to achieve new highs every year. In line with the ambitious green targets of the Government of India, led by our Hon’ble PM Shri Narendra Modi ji himself, we continue to expand our operations and footprints across multiple segments in the clean energy space, and are strongly placed to capitalise on the large-scale impending opportunities over the next decade.”
