Adani Power on Friday stated it’s going to purchase DB Power Ltd, which owns and operates a 2 x 600 MW thermal energy plant at district Janjgir Champa in Chhattisgarh, at an enterprise worth of Rs 7,017 crore for money consideration. DB Power has long- and medium-term energy buy agreements for 923.5 MW of its capability, backed by gasoline provide agreements with Coal India Ltd, and has been working its amenities profitably, it added. “Adani Power Ltd has agreed to acquire DB Power Limited (“DB Power”), which owns and operates a working 2×600 MW thermal energy plant at District Janjgir Champa in Chhattisgarh,” the corporate stated in a BSE submitting.
The price of acquisition will at enterprise worth of Rs 7,017 crore, topic to changes on the deadline, for money consideration. Adani Power will purchase 100 per cent of the whole issued, subscribed and paid up fairness share capital and choice share capital of Diliigent Power Private Limited (DPPL). DPPL is the holding firm of DB Power, and had a turnover of Rs 0.19 crore in 2021-22. DPPL shall maintain 100 per cent of whole issued, subscribed, and paid-up fairness share capital of DB Power on deadline. About the timeline for the acquisition, the corporate stated the preliminary time period of the settlement to purchase shall be until October 31, 2022, which can be prolonged by mutual settlement.
The acquisition will assist Adani Power increase its choices and operations within the thermal energy sector within the state of Chhattisgarh. DB Power was integrated on October 12, 2006, throughout the jurisdiction of the Registrar of Companies, Gwalior.
The turnover of DB Power throughout final three monetary years was Rs 3,488 crore (for FY 2021-22); Rs 2,930 crore (for FY 2020-21) and Rs 3,126 crore (for FY 2019-20). DPPL was integrated on May 13, 2010 throughout the jurisdiction of the Office of the Registrar of Companies, Gwalior, Madhya Pradesh.
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