Inox Wind Energy soars 19% on board’s nod for merger with Inox Wind

Shares of Inox Wind Energy rallied 19 per cent to hit a record high of Rs 2,150, while Inox Wind slipped 5 per cent to Rs 138.50 after the board approved merger with Inox Wind Energy.

Inox Wind, India’s leading wind energy solutions provider, on Monday, announced that as part of the strategic decision, the board of directors of the company approved the scheme of arrangement to amalgamate Inox Wind Energy into Inox Wind.

The merger is subject to various regulatory approvals and compliances. The appointed date for the amalgamation is set as July 1, 2023.