Adani Power Buys Debt-Laden Vidarbha Industries Power For ₹40 Billion

Adani Power Ltd. has completed the ₹40-billion acquisition of Vidarbha Industries Power Ltd., making it a wholly owned subsidiary, the company said in a filing Tuesday. The acquisition was done on a debt-free basis following approval from the NCLT’s Mumbai bench on June18.

The acquired company, which operates a 2×300 MW coal-fired power plant in Butibori, Maharashtra, had total admitted liabilities of ₹67.53 billion, including loan defaults to Axis Bank and SBI, which were later acquired by CFM Asset Reconstruction.

With this transaction, effective July 7, Adani Power’s total operational capacity rises to 18,150 MW.