Last month, Adani Power Limited announced that it would acquire DB Power for Rs 7,017 crore.
New Delhi:
The Competition Commission of India (CCI) said on Thursday that it has approved the acquisition of 100 percent share capital of Diliigent Power Private Limited and DB Power Limited by Adani Power Limited.
The proposed combination includes the acquisition of 100 percent of the share capital and economic rights of Diliigent Power Private Limited and DB Power Limited by Adani Power Limited, the CCI said in a statement.
The Acquirer (Adani Power Limited) is a publicly traded company incorporated in India with its shares listed on BSE Limited and on the National Stock Exchange of India Limited. The Acquirer is an energy company with eight operational power plants in India. It has a power generation capacity of 13,650 MW consisting of thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh and a 40 MW solar power project in Gujarat.
Diliigent Power is primarily engaged in the activities of a holding company. It also offers project management and consultancy services, limited to DB Power.
DB Power operates a coal-fired power station with an installed capacity of 1200 MW per hour in Chhattisgarh.
Last month, Adani Power Limited announced that it would acquire DB Power for Rs 7,017 crore.
DB Power Limited owns and operates a 2×600 MW thermal power plant in Janjgir Champa district of Chhattisgarh, and has a turnover of Rs 3,488 crore for FY 2021-22. DB Power is involved in setting up, operating and maintaining thermal power plants.
Diliigent Power Private Limited (DPPL) is the holding company of DB Power and has a turnover of Rs 0.19 crore for FY 2021-22.
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