{"id":556023,"date":"2023-02-16T11:32:22","date_gmt":"2023-02-16T06:02:22","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=556023"},"modified":"2023-02-16T11:32:22","modified_gmt":"2023-02-16T06:02:22","slug":"adani-company-gives-up-bid-to-acquire-db-power-2nd-setback-after-withdrawing-fpo","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/adani-company-gives-up-bid-to-acquire-db-power-2nd-setback-after-withdrawing-fpo\/","title":{"rendered":"Adani company gives up bid to acquire DB Power; 2nd setback after withdrawing FPO"},"content":{"rendered":"<p>MUMBAI: Adani Power&#8217;s planned Rs 7,017-crore acquisition of DB Power collapsed on Wednesday as the deadline to complete the transaction expired.<\/p>\n<p>The development comes as Gautam Adani&#8217;s conglomerate reviews capital expenditure plans in the wake of a massive sell-off of his companies&#8217; shares, triggered by a scathing report by the US-based Hindenburg Research on January 24.<\/p>\n<p>Adani Power had signed a purchase agreement for DB Power on August 18, 2022, and planned to conclude the deal by October 31, 2022. The deadline was repeatedly extended. DB Power owns a 1,200-megawatt coal-fired power plant in Janjgir Champa, Chhattisgarh, and its enterprise value including debt was estimated at Rs 7,017 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Adani Power&#8217;s planned Rs 7,017-crore acquisition of DB Power collapsed on Wednesday as the deadline to complete the transaction expired. The development comes as Gautam Adani&#8217;s conglomerate reviews capital expenditure plans in the wake of a massive sell-off of his companies&#8217; shares, triggered by a scathing report by the US-based Hindenburg Research on January 24. Adani Power had signed a purchase agreement for DB Power on August 18, 2022, and planned to conclude the deal by October 31, 2022. The deadline was repeatedly extended. DB Power owns a 1,200-megawatt coal-fired power plant in Janjgir Champa, Chhattisgarh, and its enterprise [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-556023","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/556023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=556023"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/556023\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=556023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=556023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=556023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}