Adani Power's Strategic Move: Acquisition of Lanco Amarkantak Power Ltd Approved

Adani Power has received approval from the NCLT Hyderabad bench to acquire Lanco Amarkantak Power Ltd (LAPL) for Rs 4,101 crore. The acquisition involves 100% shareholding and strengthens Adani Power's capacity. LAPL owns a 600 MW plant in Chhattisgarh and is expanding with an additional 1,320 MW capacity.

Adani Power has received clearance from the National Company Law Tribunal (NCLT) Hyderabad bench to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront sum of Rs 4,101 crore.

LAPL is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, as noted in a BSE filing. The deal is contingent on meeting conditions outlined in the resolution plan.

The acquisition, which grants Adani Power a 100% shareholding in LAPL, includes a cash consideration. LAPL operates a 600 MW thermal power plant in Chhattisgarh and is expanding to add an extra 1,320 MW capacity. This move bolsters Adani Power's status as a leading private sector power producer in India.

(With inputs from agencies.)