Company Profile

Adani Power has informed that consequent to the enhancement in the credit rating of the Company to AA-, which followed the amalgamation of its six Special Purpose Vehicles (‘SPVs’) with itself, the Company has consolidated the standalone term loan facilities of the SPVs into a single long-term Rupee term loan facility of Rs 19,700 crore under a consortium financing arrangement comprising eight lenders. The revised arrangement will allow the Company to benefit from uniform terms and greater financial flexibility in addition to reducing the effective rate of interest.

The above information is a part of company’s filings submitted to BSE.

Adani Power has informed that Mahan Energen (MEL), wholly owned subsidiary of the Company (APL) has entered into a 20-year long-term Power Purchase Agreement (‘PPA’) for 500 MW with Reliance Industries (RIL), under the Captive User policy as defined under the Electricity Rules, 2005. One unit of 600 MW capacity of MEL’s Mahan thermal power plant, out of its aggregate operating and upcoming capacity of 2800 MW, will be designated as the Captive Unit for this purpose. In order to avail the benefit of this policy, RIL has to hold a 26% ownership stake in the Captive Unit in proportion to the total capacity of the power plant. It will accordingly invest in 5,00,00,000 equity shares of MEL, aggregating to Rs 50 crore for the proportionate ownership stake. This development brings between two corporates an exclusive arrangement for 500 MW of power purchase by Reliance Industries on long term basis. In this connection, APL, MEL, and RIL have signed an Investment Agreement on 27th March 2024 at 7:00 pm. Closing of the transaction is subject to customary closing conditions including receipt of requisite approvals.

The above information is a part of company’s filings submitted to BSE.

Adani Power has received approval from Fair trade regulator Competition Commission of India (CCI) for acquisition of Lanco Amarkantak Power. Adani Power proposes to acquire 100 per cent share capital and control of the Lanco Amarkantak Power, pursuant to the corporate insolvency resolution process (CIRP) initiated under the Insolvency and Bankruptcy Code, 2016 (IBC).

On March 5, Adani Power has received the creditors' approval for the resolution plan to acquire insolvent Lanco Amarkantak Power.

Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.

Adani Power is currently trading at Rs. 536.35, up by 14.45 points or 2.77% from its previous closing of Rs. 521.90 on the BSE.

The scrip opened at Rs. 530.00 and has touched a high and low of Rs. 544.65 and Rs. 529.30 respectively. So far 35052 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 589.30 on 06-Dec-2023 and a 52 week low of Rs. 166.25 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 544.65 and Rs. 515.05 respectively. The current market cap of the company is Rs. 201293.64 crore.

The promoters holding in the company stood at 71.75%, while Institutions and Non-Institutions held 17.04% and 11.20% respectively.

Adani Power has received approval from Fair trade regulator Competition Commission of India (CCI) for acquisition of Lanco Amarkantak Power. Adani Power proposes to acquire 100 per cent share capital and control of the Lanco Amarkantak Power, pursuant to the corporate insolvency resolution process (CIRP) initiated under the Insolvency and Bankruptcy Code, 2016 (IBC).
On March 5, Adani Power has received the creditors' approval for the resolution plan to acquire insolvent Lanco Amarkantak Power.

Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.