Adani Power cancels ₹70.2 bn Chhattisgarh-based coal plant acquisition
Adani Power has clarified the stock exchanges that it has called off its plan to acquire a coal plant project in central India and there is no further development in this matter. (ALSO READ: Adani Transmission to announce debt refinancing plans in a few weeks: Report)
In August 2022, Adani Power agreed to take control of DB Power at an enterprise value of ₹70.2 billion ($850 million). The acquisition was approved by the country’s competition regulator a month later.
Amid the media reports that Adani Power had cancelled the acquisition of the coal plant, Adani Power informed both the stocks exchanges — BSE and NSE — on Tuesday that it was not going ahead with the acquisition.
