Inox Wind’s board has approved the Scheme of Arrangement which provides for amalgamation of Inox Wind Energy (IWEL/ Promoter & Holding Company/ Transferor Company) into Inox Wind (IWL/ Company/Transferee Company) (Scheme) subject to various regulatory approvals and compliances. The Appointed Date for the Amalgamation is set as July 1, 2023. The Board of Directors of the company at its meeting held on June 12, 2023 has considered and approved the same.
This consolidation aims to simplify and streamline the group's structure by reducing the number of listed entities. This move would result in the larger stronger entity having a stronger shareholder base. This merger is in interest of the shareholders of both the listed companies as it simplifies the structure, leading to simpler and efficient operations through one listed company and results in a much stronger shareholder base. By doing so, the Scheme also aims to foster improved operational synergy, focused operational efforts, standardized and simplified processes, and productivity enhancements.
Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate Investors.
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