The Chandigarh bench of the National Company Law Tribunal (NCLT) has approved the merger of Inox Wind Energy Ltd (IWEL) with Inox Wind Ltd (IWL), a move that will streamline the wind energy segment of the INOXGFL Group and enhance operational efficiencies.
Following the NCLT ruling on Tuesday, the integration will see Inox Wind Energy Ltd merged into Inox Wind Ltd, as confirmed by the INOXGFL Group in a statement. The merger is expected to simplify and optimize the wind business division of INOXGFL, improving overall operational efficiencies. Additionally, the move will reduce IWL’s liabilities by INR 2,050 crore, thereby strengthening its balance sheet.
This consolidation is anticipated to create significant synergies—financial, operational, and otherwise—which could increase value for stakeholders of both companies. Under the terms of the merger, shareholders of IWEL will receive 632 equity shares of IWL for every 10 shares of IWEL, based on the face value of INR 10 each. The record date for the share exchange will be announced soon.
The merger also allows INOXGFL Group promoters to directly hold stakes in Inox Wind. The new shares will likely be credited to IWEL shareholders within 1 to 1.5 months, pending regulatory approval and necessary clearances.
Devansh Jain, Executive Director of INOXGFL Group, commented, “This merger marks a key milestone in the INOXGFL Group’s journey and concludes two years of hard work by our team. It brings value to all stakeholders, including the minority shareholders of IWEL, while strengthening IWL’s balance sheet.”
The company also noted that merging the operations of the two firms will lead to cost savings through economies of scale, better resource utilization, elimination of redundant functions, and smoother regulatory compliance. Inox Wind Limited (IWL) is a leading player in India’s wind energy sector, catering to independent power producers (IPPs), utilities, public sector units (PSUs), and corporate investors. A part of the US$ 12 billion INOXGFL Group, IWL is focused on renewable energy and chemicals.
With four advanced manufacturing facilities in Gujarat, Himachal Pradesh, and Madhya Pradesh, IWL produces critical components for wind turbines, including blades, tubular towers, hubs, and nacelles. IWL’s manufacturing capacity is approximately 2.5 GW per year, supported by its state-of-the-art 3 MW series wind turbine generators (WTGs).
IWL’s subsidiary, Inox Green Energy Services Ltd, is India’s only listed wind O&M services company, with a strong portfolio of around 3.5 GW and plans for significant growth. Additionally, through Resco Global Wind Services, IWL provides EPC services and infrastructure development for renewable energy projects. IWL offers comprehensive wind energy solutions from concept to commissioning, alongside in-house manufacturing using cutting-edge technology, ensuring high-quality, reliable, and cost-competitive products.
IWL holds ISO 9001:2008, ISO 14001:2004, OHSAS 18001, and ISO 3834 certifications, guaranteeing adherence to global quality standards in manufacturing, installation, commissioning, and O&M. With solid financial backing, strong industry relationships, and promising market conditions, IWL is well-positioned for continued growth and success.
