Adani Power to acquire DB Power for Rs 7,017 crore
By MYBRANDBOOK
Adani Power will acquire DB Power Limited for Rs 7,017 crore. The acquisition is expected to help the company expand its offerings and operations in the thermal power sector in Chhattisgarh.
The proposed transaction is subject to receipt of approval from the Competition Commission of India (CCI) and any other approvals as may be identified following the due diligence exercise to be conducted with respect to DPPL and DB Power.
DB Power owns and operates a running 2x600 MW thermal power plant at District Janjgir Champa in Chhattisgarh. The company is engaged in the business of establishing, operating, and maintaining thermal power generating stations.
Diliigent Power Private Limited (DPPL) is the holding company of DB Power with a turnover of Rs 0.19 crore for FY 2021-22. Adani Power will have shareholding control over 100 percent of the total issued, subscribed and paid-up equity share capital and preference share capital of DPPL, while DPPL will hold 100 percent of the total issued, subscribed, and paid-up equity share capital of DB Power on the closing date.
Currently, DB Power has long and medium-term Power Purchase Agreements for 923.5 MW of its capacity, backed by Fuel Supply Agreements with Coal India, and has been operating its facilities profitably.
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