February 19, 2025 11:04 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
BJP names first-time MLA Rekha Gupta as Delhi Chief Minister, oath ceremony tomorrow | 'Why are we giving $21 million to India?': Donald Trump backs DOGE move of scrapping 'voter turnout' fund | 'Rarest of rare case': Kolkata court sentences man to death for raping 7-month-old baby | Mamata Banerjee dares Suvendu Adhikari to tackle revolt, LoP says 'you can't scare me' | Today is the first step of long, difficult journey: US after Riyadh meeting with Russian delegates to end Ukraine war | 5 arrested over KIIT protest after Nepali student's death get bail | All is not well in Maharashtra ruling alliance with Eknath Shinde being upset over reduced security cover to its MLAs | US, Russia to name teams for negotiating path to end Ukraine war | Modi govt exacerbated voters' concerns over integrity of electoral process: Rahul Gandhi slams new CEC appointment | Piyush Goyal says India, Qatar's future partnership rests on pillars of sustainibility, technology, entrepreneurship
Adani Power
Image Credit: Unsplash

Adani Power cancels Rs 70.2 billion DB Power buyout in Chhattisgarh

| @indiablooms | Feb 25, 2023, at 05:28 am

Mumbai/IBNS: Adani Power has informed the stock exchanges that it has cancelled its proposal to purchase a coal plant project located in central India and that there has been no further development on this issue, news agency ANI reported.

Adani Power agreed in August 2022 to acquire DB Power at an enterprise value of Rs 70.2 billion ($850 million). The acquisition was later approved by the Competition Commission of India in September.

Enterprise value (EV) represents the total value of a company, including the market value of its outstanding debt, preferred stock, and equity. It is used to determine the value of a business as a whole and takes into account all the capital structure components, rather than just the stock price. Essentially, it is the theoretical amount of money required to acquire an entire company or business.

Amid the media reports that Adani Power had backed out, the company informed both the domestic bourses—NSE and BSE—on Tuesday about its decision to call off the acquisition, the report said.

Adani Power and DB Power have mutually decided to cancel the transaction after the expiration of the long-stop date on February 15. DB Power currently manages a 1.2-gigawatt coal power project situated in Chhattisgarh, it added.

The acquisition of DB Power, which runs a 2x600 MW coal-fired power plant in the Janjgir Champa district of Chhattisgarh, was anticipated to enhance Adani Power's presence and activities in the thermal power sector in the state.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu