iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Adani Power extends deadline for completing the acquisition of DB Power's thermal assets to 15th January

2 Jan 2023 , 10:09 AM

Adani Power announced that the deadline for completing the Rs7,017 crore deal to acquire DB Power’s thermal power assets has been extended until January 15, 2023.

Previously, the company had extended the completion date by one month to December 31, 2022.

Earlier this year, Adani Power informed the stock exchanges that it plans to acquire DB Power Ltd (DB Power), which owns and operates a running 2×600 MW thermal power plant in Chhattisgarh’s district Janjgir Champa.

DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, which is supported by fuel supply agreements with Coal India Ltd, and its facilities are operating profitably.

The initial term of the MOU was until October 31, 2022, and it can be extended by mutual agreement, stated the company initially.

According to the company, the enterprise value of DB Power was estimated to be Rs7,017 crore, subject to adjustments on the closing date.

In Chhattisgarh, DB Power is in the business of establishing, operating, and maintaining a thermal power generating station.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Acquisition News
  • Adani Power
  • Adani power Acquisition
  • DB Power News
  • Power Acquisition
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.