On June 13, Inox Wind Energy shares zoomed 19%, hitting a 52-week high of Rs 2,150, after the firm announced the company’s merger with parent Inox Wind.

At 09:36 am, Inox Wind Energy stock was trading at Rs 2,075, up 14.49%, on the BSE. The stock rose 80% in the past three months and is up 285% in the past year.

The company will be merging with parent Inox Wind under a share swap. For every 10 shares of Inox Wind Energy, 158 equity shares of Inox Wind are to be issued, the company mentioned in an exchange filing.

This merging aims to shorten and streamline the group’s structure by tumbling the number of listed entities.
The company manufactures Wind Turbine Generators and is a wind energy solutions provider.

Under the Companies Act 2013, Inox Wind Energy was incorporated on March 6, 2020, to engage in the business of the creation and sale of wind energy, offering services for the Erection, Procurement and Commissioning (EPC) of wind farms and holding a strategic business interest in Renewable Energy.