Adani Power Ltd saw a sharp rally of more than 4 percent in its share price on March 27 during the morning trade due to news that CCI had approved company’s acquisition of Lanco Amarkantak Power.
Adani Power’s acquisition proposal involves the acquisition of 100% share capital and management control of Lanco Amarkantak Power, a company engaged in thermal power generation being resolved through the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016.
According to the order, this deal comprises an acquisition of the entire equity share capital in the target company by Adani Power.
As of 10:08am IST on March 27, Adani Power’s stock was up 2.82% to INR 536.70 on NSE.
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Adani Power