Latest news with #IWEL
Time of India
11-06-2025
- Business
- Time of India
NCLT Merger Approval: NCLT approves merger of Inox Wind Energy & Inox Wind, ET LegalWorld
The Chandigarh bench of National Company Law Tribunal (NCLT) has approved the merger of Inox Wind Energy Ltd and Inox Wind Ltd, a decision that will streamline the wind business vertical of the INOXGFL Group and improve overall operational efficiencies. Following the NCLT order on Tuesday, Inox Wind Energy Ltd will be amalgamated into Inox Wind Ltd (IWL), INOXGFL Group said in a statement on Wednesday. The merger simplifies and streamlines the wind business vertical of the INOXGFL Group, improving overall operational efficiencies, it said. The merger, or the "scheme of arrangement", will also reduce IWL's liabilities by Rs 2,050 crore, strengthening its balance sheet. Advt The overall consolidation of businesses, financial, operational and other synergies may result in enhancing value for various stakeholders of the a result of this merger, 632 equity shares of face value of Rs 10 each of IWL will be allotted for every 10 equity shares of face value of Rs 10 each of IWEL as on the record date, which will be determined shortly, as per the Group promoters will now have direct holding in Inox shares are expected to be credited to shareholders of IWEL within 1-1.5 months, subject to regulatory processes and Group Executive Director Devansh Jain said, "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."The 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, he company said combining the operations of both companies achieves cost savings through economies of scale, improved resource utilisation, elimination of redundant functions and operations, and streamlining of regulatory compliances. Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETLegalWorld App Get Realtime updates Save your favourite articles Scan to download App
Time of India
11-06-2025
- Business
- Time of India
NCLT approves IWEL-IWL merger; Inox Wind to reduce liabilities by ₹2,050 crore
New Delhi: The National Company Law Tribunal (NCLT), Chandigarh Bench has approved the merger of Inox Wind Energy Ltd (IWEL) with Inox Wind Ltd (IWL), a move that will reduce IWL's liabilities by approximately ₹2,050 crore, according to a company statement on Wednesday. The tribunal passed the order on June 10, paving the way for the consolidation of the INOXGFL Group's wind energy business. Following the merger, IWEL shareholders will receive 632 equity shares of ₹10 each in IWL for every 10 shares held in IWEL, as per the approved scheme. The merged entity is expected to operate under a leaner capital structure. As a result of the merger, liabilities in IWL's books will reduce by ₹2,050 crore, according to the group. Devansh Jain, Executive Director, INOXGFL Group, said: 'This 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.' He added that the merger will be beneficial to all stakeholders, including minority shareholders of IWEL. The promoter holding structure will also be simplified post-merger, with promoters holding direct equity in IWL. The merged entity is expected to benefit from operational synergies and streamlined resources. The INOXGFL Group comprises four listed entities—Gujarat Fluorochemicals Ltd, Inox Wind Ltd, Inox Green Energy Services Ltd, and Inox Wind Energy Ltd—with a combined market capitalisation of around USD 11 billion. The group is engaged in businesses across fluoropolymers, fluorochemicals, battery chemicals, and renewable energy. The share swap is subject to regulatory procedures and clearances, and the shares are expected to be credited to IWEL shareholders in 1 to 1.5 months, the group said.
&w=3840&q=100)
Business Standard
11-06-2025
- Business
- Business Standard
Inox Wind Energy to merge with Inox Wind following NCLT's approval
The Chandigarh bench of National Company Law Tribunal (NCLT) has approved the merger of Inox Wind Energy Ltd and Inox Wind Ltd, a decision that will streamline the wind business vertical of the INOXGFL Group and improve overall operational efficiencies. Following the NCLT order on Tuesday, Inox Wind Energy Ltd will be amalgamated into Inox Wind Ltd (IWL), INOXGFL Group said in a statement on Wednesday. The merger simplifies and streamlines the wind business vertical of the INOXGFL Group, improving overall operational efficiencies, it said. The merger, or the "scheme of arrangement", will also reduce IWL's liabilities by Rs 2,050 crore, strengthening its balance sheet. The overall consolidation of businesses, financial, operational and other synergies may result in enhancing value for various stakeholders of the companies. As a result of this merger, 632 equity shares of face value of Rs 10 each of IWL will be allotted for every 10 equity shares of face value of Rs 10 each of IWEL as on the record date, which will be determined shortly, as per the statement. INOXGFL Group promoters will now have direct holding in Inox Wind. The shares are expected to be credited to shareholders of IWEL within 1-1.5 months, subject to regulatory processes and clearances. INOXGFL Group Executive Director Devansh Jain said, "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." The 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, he added. The company said combining the operations of both companies achieves cost savings through economies of scale, improved resource utilisation, elimination of redundant functions and operations, and streamlining of regulatory compliances.
India Today
11-06-2025
- Business
- India Today
Law tribunal clears merger of Inox Wind Energy Limited with Inox Wind
Inox Wind Energy Limited (IWEL) has received final approval from the National Company Law Tribunal (NCLT), Chandigarh Bench, for its merger with Inox Wind Limited (IWL). The order clears the way for the two companies to combine as part of the INOXGFL Group's efforts to strengthen its renewable energy merger is seen as an important step for the group, as it aims to create a simpler and stronger business structure in the clean energy space. The group believes the move will help improve financial health, lower debt, and increase operational to a stock exchange filing by Inox Wind, the combined company will benefit from a stronger balance sheet after the merger. The merger is expected to reduce liabilities by around Rs 2,050 crore. The company also expects to save costs by improving how resources are used and by simplifying various processes. It said that this will make it easier to meet regulatory the merger, the group will no longer need a separate holding company. The promoters of the INOXGFL Group will now have a direct holding in Inox Wind. This change is expected to bring in more value for all stakeholders by allowing smoother operations and better coordination across the TO GET NEW SHARESAs part of the deal, shareholders of IWEL will receive 632 equity shares of IWL for every 10 shares they hold in IWEL. The share swap is based on a fair valuation and aims to treat all shareholders entire process of merging the two companies is expected to be completed in the next one to one-and-a-half months, depending on remaining regulatory Jain, Executive Director of the INOXGFL Group, welcomed the tribunal's 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.'Jain also said the merger marks an important step for the group's wind energy business. He highlighted how the business had seen an improvement in both operations and finances over the past two 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,' he Watch advertisement
Business Standard
11-06-2025
- Business
- Business Standard
NCLT approves scheme of arrangement between Inox Wind Energy & Inox Wind
INOXGFL Group announced today that Hon'ble National Company Law Tribunal (NCLT), Chandigarh Bench has approved the scheme of arrangement between Inox Wind Energy (IWEL) & Inox Wind (IWL) vide its order dated 10 June 2025, consequent to which IWEL will be amalgamated into IWL. As a result of this merger, 632 equity shares of face value of Rs. 10 each of IWL will be allotted for every 10 equity shares of face value of Rs. 10 each of IWEL as on the Record Date (to be determined shortly). The shares are expected to be credited to shareholders of IWEL within a period of 1-1.5 months, subject to regulatory processes and clearances.
