Inox Wind Energy Limited (IWEL) on Wednesday said it has received final approval from the National Company Law Tribunal, Chandigarh bench, for its merger with Inox Wind Limited (IWL).
The merger is seen as an important step for the parent INOXGFL Group, as it aims to create a simpler business structure in the clean energy segment and help improve financial health, lower debt and increase operational efficiency.
According to a regulatory 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 ₹2,050 crore. The company also expects to save costs by improving how resources are used and by simplifying various processes. This will make it easier to meet regulatory requirements, it said. With 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.
The merger is seen as an important step for the parent INOXGFL Group, as it aims to create a simpler business structure in the clean energy segment and help improve financial health, lower debt and increase operational efficiency.
According to a regulatory 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 ₹2,050 crore. The company also expects to save costs by improving how resources are used and by simplifying various processes. This will make it easier to meet regulatory requirements, it said. With 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.
