Adani Power Acquires Majority Stake in Mirzapur Thermal Energy

Adani Power announced that Mirzapur Thermal Energy U.P. Pvt Ltd (MTEUPL) has become its subsidiary following the allocation of 99.8% of MTEUPL's equity shares to the company. MTEUPL, which is yet to start commercial activities, was previously a wholly owned subsidiary of Adani Infra (India) Ltd (AIIL).

Adani Power has officially taken control of Mirzapur Thermal Energy U.P. Pvt Ltd (MTEUPL) by securing 99.8% of its equity shares, the company announced on Wednesday.

According to a filing with the BSE, Adani Power was allotted 5 million equity shares of Rs. 10 each on a preferential basis, converting MTEUPL into its subsidiary.

Although MTEUPL has yet to commence commercial operations, the company will focus on infrastructure development. Previously, MTEUPL was a wholly owned subsidiary of Adani Infra (India) Ltd (AIIL), a related party to Adani Power.