New Delhi, Aug 2 () Adani Power on Friday said it has completed acquisition of GMR Chhattisgarh Energy (GCEL), which owns and operates a 1,370 MW (2 X 685 MW) power plant at Raikheda village in Raipur.
“52.38 per cent of the equity stake in GCEL was acquired from its consortium of lenders, following the approval of Adani Power’s resolution plan to acquire a controlling equity stake and restructure its debt,” Adani Power Ltd (APL) said in a filing.
The balance 47.62 per cent stake was acquired from the GMR Group.
“The acquisition of GCEL was concluded at an enterprise valuation of approx. Rs 3,530 crore,” it added.
