Adani Power Limited (APL) has recently informed exchanges that the company received approval from the Committee of Creditors (COC) for its Resolution Plan to acquire Vidarbha Industries Power Limited (VIPL) under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code (IBC) 2016.
On February 24, 2025, APL was issued a Letter of Intent (LOI) from the Resolution Professional (RP), marking a significant step in the acquisition process.
VIPL owns and operates a 600 MW (2×300 MW) thermal power plant located in the MIDC Industrial Area, Butibori, Nagpur, Maharashtra. The acquisition aligns with Adani Power’s expansion strategy in the thermal energy sector.
This move strengthens Adani Power’s position in India’s energy sector while ensuring the revival of VIPL. With APL’s expertise, the power plant is expected to operate efficiently, contributing to energy security and economic growth.
In the meantime, Adani Power shares opened today at ₹477.90, reaching a high of ₹478.55 and a low of ₹470.50 during the trading session. The stock remains significantly below its 52-week high of ₹895.85 but stays above its 52-week low of ₹432.00.
