M&A

M&A

Adani Power to acquire GVK Energy

CCI Announcement   Economic Times   GVK Energy  

The Competition Commission of India (CCI) has approved the acquisition of GVK Energy by Adani Power. The transaction involves the acquisition of 100% share capital and control of GVK Energy as part of a corporate insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016.GVK Energy operates a 330 MW hydroelectric power project in Srinagar, Uttarakhand, through its subsidiary AHPL. Adani Power plans to integrate the entity into its existing operations as a private thermal power producer with plants located across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, as well as a 40 MW solar power plant in Gujarat.

Between Nov 2010 and Dec 2010, GVK Energy had attracted about USD 337 M from 3i, Actis, GIC.For FY25, GVK Energy had reported about INR 28 Cr in Operating Income and about INR 13 Cr in PAT.