NCLT approves merger of Inox Wind Energy with Inox Wind

The National Company Law Tribunal (NCLT), Chandigarh Bench, has approved the merger of Inox Wind Energy Limited (IWEL) with Inox Wind Limited (IWL), as per its order dated June 10, 2025.

The merger will simplify the business structure of the INOXGFL Group by eliminating the holding company layer and allowing direct promoter shareholding in IWL. It is expected to reduce IWL’s liabilities by around Rs 20.50 billion and strengthen its balance sheet.

Shareholders of IWEL will receive 632 equity shares of IWL for every 10 shares held in IWEL. The shares are expected to be credited within 1–1.5 months, pending regulatory formalities.

The merger is aimed at improving financial and operational efficiency, eliminating duplicate functions, and enhancing resource utilisation. It also aligns with the group’s broader strategy to consolidate its wind business and expand across renewable segments.

INOXGFL Group operates across fluorochemicals, battery materials, wind and solar manufacturing, and renewable energy. Its listed entities include Gujarat Fluorochemicals Limited, Inox Wind Limited, Inox Green Energy Services Limited, and IWEL, with a combined market capitalisation of approximately USD 11 billion.