Inox Green Energy Services Limited (IGESL) has successfully obtained approval from all stakeholder groups for its proposed scheme of arrangement with Inox Renewable Solutions Limited. The company announced that equity shareholders, warrant holders, secured creditors, and unsecured creditors have all voted in favor of the resolution during meetings held on November 1, 2025.

Stakeholder Approval Details

The voting results, as reported by the scrutinizer, show overwhelming support for the scheme:

Key Highlights of the Approval Process

• The meetings were conducted via video conference following an order from the National Company Law Tribunal (NCLT), Ahmedabad Bench, dated September 8, 2025.
• Public shareholders showed strong support with 98.87% voting in favor of the scheme.
• The resolution met the required majority of three-fourths in value from each category of stakeholders.
• The scheme received unanimous approval from warrant holders, secured creditors, and unsecured creditors.

Regulatory Compliance

IGESL has ensured compliance with various regulatory requirements:

• The approval process adhered to Sections 230-232 of the Companies Act, 2013.
• The company followed the Securities and Exchange Board of India (SEBI) Master Circular guidelines.
• Observation letters were obtained from both BSE Limited and the National Stock Exchange of India Limited on July 18, 2025.

Next Steps

With stakeholder approval secured, the scheme of arrangement will now proceed to the next stages of implementation, subject to further regulatory approvals, including final sanction from the NCLT.

The successful approval of this scheme marks a significant milestone for Inox Green Energy Services Limited and Inox Renewable Solutions Limited, potentially paving the way for strategic restructuring and value creation for all stakeholders involved.

Inox Green Energy Services Limited (IGESL) recently conducted a series of important meetings with its stakeholders to discuss a proposed demerger, marking a significant corporate action for the company. The meetings, held on November 1, 2025, were in compliance with an order from the National Company Law Tribunal (NCLT), Ahmedabad Bench, dated September 8, 2025.

Key Meeting Details

The company organized separate meetings for different stakeholder groups, each focusing on the consideration of a Scheme of Arrangement between Inox Green Energy Services Limited (the demerged company) and Inox Renewable Solutions Limited (the resulting company). Here's a breakdown of the meetings:

Voting Process

To ensure maximum participation and adherence to COVID-19 protocols, IGESL conducted these meetings through video conferencing. The company provided a remote e-voting facility for all stakeholder groups, which was available from October 28 to October 31, 2025. This approach allowed stakeholders to cast their votes on the proposed Scheme of Arrangement conveniently and safely.

Meeting Proceedings

Each meeting followed a similar structure:

1. Introduction of the Chairperson, Mr. Binod Kumar Sinha, and the Scrutinizer, Ms. Vandana R. Kohli, both appointed by the NCLT.
2. Confirmation of the required quorum.
3. Presentation on the proposed Scheme of Arrangement.
4. Discussion and voting on the resolution to approve the Scheme.

The meetings concluded with an additional 15-minute e-voting window for those who hadn't cast their votes earlier.

Significance of the Scheme

The proposed Scheme of Arrangement, if approved, would result in the demerger of certain operations from Inox Green Energy Services Limited to Inox Renewable Solutions Limited. This corporate action could potentially lead to a more focused business structure for both entities, allowing each to optimize its operations and strategy in the renewable energy sector.

Next Steps

While the meetings have concluded, the outcome of the voting process remains crucial. IGESL has stated that detailed voting results will be submitted separately to the stock exchanges. These results will determine whether the proposed Scheme of Arrangement receives the necessary stakeholder approval to move forward.

Investors and stakeholders of Inox Green Energy Services Limited should keep an eye out for further announcements regarding the voting results and any subsequent steps in the demerger process. The outcome of this corporate action could have significant implications for the company's future structure and operations in the renewable energy market.