M&A M&A
Adani Power acquires 100% stake in Vidarbha Industries Power for Rs.4,000-Cr
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Publicly listed Adani Power has got the approval from the Mumbai bench of the National Company Law Tribunal (NCLT) to acquire 100% stake in Nagpur-based Vidarbha Industries Power Ltd (VIPL) with an upfront payment of INR 4,000 crore. VIPL is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code.Through this acquisition, Adani Power aims to operate at a combined power generation capacity of 18,150 MW.Vidarbha Industries has a domestic coal based power plant with a capacity of 600 MW in Nagpur.