Inox Green gets NCLT nod for ₹550 crore Wind World O&M deal
Inox Green Energy Services has secured NCLT approval for acquiring Wind World India's O&M business for up to ₹550 crore, adding 4.5 GW capacity to its portfolio.
*this image is generated using AI for illustrative purposes only.
Inox Green Energy Services Limited has received the certified copy of the National Company Law Tribunal (NCLT), Ahmedabad bench, order on August 3, 2026, formally approving the resolution plan for Wind World (India) Limited (WWIL). This regulatory confirmation validates the consortium’s acquisition of WWIL’s assets, enabling Inox Green to proceed with acquiring the wind operations and maintenance (O&M) business. The move significantly expands Inox Green’s managed capacity, adding approximately 4.5 GW to its portfolio and strengthening its position in India’s renewable energy sector.
Transaction Details
The NCLT had orally pronounced the approval of the resolution plan, dated February 13, 2026, with an addendum dated May 20, 2026, on July 27, 2026. The certified order was issued pursuant to the Insolvency and Bankruptcy Code, 2016. The committee of creditors of WWIL had previously approved the plan on February 19, 2026, with a voting share of 96.47%. The acquisition structure involves a bifurcated approach: Inox Neo Energies Limited (INEL) will acquire a controlling stake in WWIL to house the independent power producer (IPP) and power sale business, while Inox Green will acquire the O&M business undertaking.
| Key Transaction Metric | Detail |
|---|---|
| Consideration | Cash consideration |
| Maximum Value | Up to ₹550 crore |
| Payment Terms | Lump sum upon completion, subject to adjustments |
| Timeline | Within 60 days of receiving NCLT order |
Portfolio Expansion
The acquisition adds WWIL’s established domestic O&M portfolio of approximately 4.5 GW, spread across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Madhya Pradesh, Rajasthan, and Tamil Nadu. Post-acquisition, Inox Green’s combined managed capacity is projected to reach approximately 13 GW. The O&M business services marquee clients including Tata Group, ReNew, Greenko, Apraava Energy, and Hindustan Zinc. The turnover from this O&M business was ₹579.77 crore in FY26, ₹597.09 crore in FY25, and ₹499.59 crore in FY24, based on provisional and unaudited figures.
Regulatory Compliance
This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The transfer of the O&M business is subject to approval by the Implementation and Monitoring Committee (IMC) of WWIL. The company stated that the activities are aligned with its main line of business and do not constitute a related party transaction.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE510W01014/2756bea3a25f4c87.pdf
Historical Stock Returns for Inox Green Energy Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.17% | -5.78% | -9.71% | -0.37% | +14.22% | +198.24% |
How will the integration of WWIL's 4.5 GW O&M portfolio impact Inox Green's operational margins and EBITDA in the next two fiscal years?
What specific synergies or cost-saving measures does Inox Green anticipate from combining its existing O&M capabilities with WWIL's established client base?
Given the ₹550 crore cash consideration, how might this acquisition affect Inox Green's liquidity position and future capital allocation for new renewable projects?
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