NCLT Mumbai approves Vidarbha Industries Power merger into Adani Power
As filed · Adani Power Limited has informed the Exchange about Update on the Scheme of Amalgamation
What happened
FactThe NCLT Mumbai sanctioned the amalgamation of wholly owned subsidiary Vidarbha Industries Power Limited with Adani Power on September 24, 2026. With this order and the earlier Ahmedabad NCLT approval for nine other subsidiaries, the proposed amalgamation scheme has received approvals from both tribunals; it will become effective after completion of the steps specified in the approved scheme.
Why it matters
CapitSignal interpretationA merger fixes a share-exchange ratio, which permanently sets how much of the combined company existing holders own.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Input Costs
ContradictedOur cost per MW is much lower than what other people are building.
The indices of imported coal are higher, and merchant prices have also increased.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Swap ratio and its valuation basis
- Regulatory and NCLT approvals required
- Appointed date
- We are on track to commission the 1,320 MW Korba Phase-II project this year, while the 1,600-MW Mahan Phase-II (management committed by Q1 FY28)
- Actually, what's happening, Shirom, is we are only deferring the commissioning targets by an average of 6 mont (management committed by FY29)
Evidence
- Adani Power Limited has informed the Exchange about Update on the Scheme of Amalgamation(opens the original filing in a new tab)
- Earlier statement · Q4 FY25
- Latest statement · Q1 FY27
- Earlier statement · Q4 FY26
How CapitSignal classified this
- Reasoning:
- The approval clears the remaining stated tribunal approval for consolidating the identified wholly owned subsidiaries into Adani Power. The transaction is not yet effective and remains subject to completion of the steps in the approved scheme.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 90%