Adani Power extends deadline for acquisition of DB Power to February 15

17 Jan 2023 , 11:09 AM

In its filing with the bourses, Adani Power informed that the companies have mutually decided to further extend the long stop date to February 15, 2023, for the completion of acquisition of DB Power.

The company earlier announced on August 19, 2022, that it has agreed to acquire DB Power Limited which owns and operates a running 2X600 MW thermal power plant at District Janjgir Champa in Chhattisgarh.

DB Power establishes, operates, and maintains thermal power generating stations.

The initial term of the MoU was October 31, 2022, which has been extended thrice prior to this. First, it was extended to November 30, 2022, then to December 31, 2022. Later, the company announced the further extension to January 15, 2022.

DB Power has an Enterprise Value of Rs7,017 crore, subject to closing adjustments. 

At around 11.05 AM, Adani Power was trading 2.77% higher at Rs280.50, against the previous close of Rs272.95 on NSE. The counter touched an intraday high and low of Rs281.30 and Rs271.75 respectively.

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