Adani Power gets NCLT nod to acquire VIPL for Rs 40 billion
Author: PPD Team Date: June 24, 2025
Adani Power Limited has received approval from the National Company Law Tribunal (NCLT), Mumbai bench, to acquire Vidarbha Industries Power Limited (VIPL). The acquisition is valued at Rs 40 billion and is expected to close by July 17, 2025.
Adani Power received the letter of intent (LoI) for the deal from the resolution professional on February 24, 2025.
VIPL, a wholly owned subsidiary of Reliance Power Limited, developed the 600 MW Butibori Thermal Power Project in Nagpur, Maharashtra. The project comprises two units of 300 MW each and was built with an investment of Rs 36.33 billion.
Earlier this year, IDBI Capital Markets & Securities Limited was appointed as the transaction advisor for due diligence on the plant. The contract was valued at Rs 4.98 million.