The INOXGFL Group, a key player in India’s energy transition sector, announced that the National Company Law Tribunal (NCLT), Chandigarh Bench, has approved the merger of Inox Wind Energy Ltd (IWEL) into Inox Wind Ltd (IWL). The order, dated 10 June 2025, paves the way for streamlining the group’s wind energy vertical and strengthening the financial and operational base of the consolidated entity.

Following the merger, IWL will see a significant improvement in its balance sheet with a reduction in liabilities of approximately Rs 20.5 billion. The amalgamation is also expected to deliver enhanced efficiencies through economies of scale, better utilisation of resources, elimination of redundancies, and simplified regulatory compliance.

The merger will dismantle the existing holding company structure, providing a more transparent business and shareholding setup. Promoters of INOXGFL will now hold direct stakes in Inox Wind, which is expected to boost investor confidence and unlock stakeholder value.

As part of the merger terms, shareholders of IWEL will receive 632 equity shares of face value Rs 10 each in IWL for every 10 equity shares held in IWEL, on a record date to be announced. The new shares are expected to be credited within 1 to 1.5 months, subject to regulatory approvals.

Devansh Jain, Executive Director of INOXGFL Group, called the merger a “significant achievement” in the group’s journey, marking the culmination of two years of effort. He highlighted the transformation achieved in the wind energy business during this period and reiterated the group’s commitment to India’s green energy goals.

With this structural consolidation, the INOXGFL Group is positioned to capitalise on emerging opportunities in the clean energy sector, aligned with the Indian government’s long-term sustainability targets.