INOX Green Energy Services moves ahead with demerger scheme

INOX Green Energy Services Limited (IGESL) announced on September 9, 2025, that the NCLT, Ahmedabad Bench, has directed meetings of its equity shareholders, warrant holders, secured creditors, and unsecured creditors for November 1, 2025. This follows "No adverse observation/ No objection" letters from BSE Limited and National Stock Exchange of India Limited on July 18, 2025, for the proposed Scheme of Arrangement.

The scheme involves the demerger and transfer of the "Power Evacuation Business Undertaking" from IGESL to Inox Renewable Solutions Limited (IRSL). As of August 1, 2025, IGESL has 142,433 equity shareholders, 5 warrant holders, 2 secured creditors with a debt of Rs. 24,71,43,000, and 874 unsecured creditors with a debt of Rs. 83,33,72,966.

Share and warrant entitlement ratios indicate that 122 equity shares of IRSL (Rs. 10 each) will be issued for every 1000 equity shares of IGESL (Rs. 10 each). Additionally, 122 convertible warrants of IRSL (issue price Rs. 205 each) will be issued for every 1,000 convertible warrants of IGESL (issue price Rs. 145 each), with an adjustment for warrants issued at Rs. 120 each.