Adani Power Secures LOI to Acquire Reliance’s Vidarbha Industries Power

Adani Power Limited (APL) informed the stock exchanges that it has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited, a subsidiary of Reliance Power.

Vidarbha Industries Power is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) 2016. The company owns and operates a 2×300 MW thermal power plant located in the MIDC Industrial Area of Butibori, Nagpur.

Approval of Resolution Plan

As part of the resolution process, Adani Power was selected as the successful resolution applicant, and its resolution plan was approved by the Committee of Creditors (CoC). On February 24, 2025, APL received the LOI from the Resolution Professional (RP), marking a key step in the acquisition process.

Regulatory Approvals and Next Steps

The completion of this acquisition is subject to necessary approvals from the National Company Law Tribunal (NCLT), Mumbai, and other regulatory authorities. Once finalised, the acquisition will further strengthen Adani Power’s presence in the thermal energy segment. The resolution plan will be executed as per the LOI’s terms and legal requirements, ensuring compliance with the CIRP framework.

Conclusion

The acquisition of Vidarbha Industries Power marks another significant step in Adani Power’s expansion. The deal now awaits regulatory approvals for completion.

On February 25, 2025, Adani Power share price opened at ₹470.10, the same as its previous close of ₹470.10. At 10:25 AM, the share price of Adani Power was trading at ₹486.60, up by 3.51% on the NSE.

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