Adani Power and 6 subsidiaries merge

8 Mar 2023 , 08:24 AM

On Tuesday, Adani Power said that it has merged with itself and its six subsidiaries, including Adani Power (Mundra). Adani Power Ltd (APL) and six of its wholly-owned subsidiaries — Adani Power Maharashtra Ltd (APML), Adani Power Rajasthan Ltd (APRL), Udupi Power Corporation Ltd (UPCL), Raipur Energen Ltd (REL), Raigarh Energy Generation Ltd (REGL), and Adani Power (Mundra) Ltd (APMuL) — were merged on February 8, 2023, according to a BSE filing.

The statement read, ‘We desire to update that all the conditions indicated under the Scheme for making it effective have been satisfied, and consequently the Scheme is now effective from the Appointed Date, i.e. October 1, 2021, as specified thereunder.

The six businesses—APML, APRL, UPCL, REL, REGL, and APMuL—have now been merged into APL, it was stated.

As a result, it stated, the company would release financial statements for the fiscal years 2022 and 2023 based on the amalgamation and will also recast comparative period statistics in accordance with relevant accounting rules.

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