Adani Power Ltd's resolution plan for EPMPL approved by NCLT

The Hon'ble National Company Law Tribunal, Principal Bench at New Delhi (the 'NCLT'), has placed on its website on November 02, 2021 its order dated November 01, 2021, approving the resolution plan submitted by Adani Power Limited for acquisition of Essar Power M P Limited (EPMPL), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code. EPMPL owns a 1,200 MW thermal power plant in Singrauli Dist., Madhya Pradesh.

The above-mentioned acquisition shall be subject to satisfaction of conditions precedent mentioned under the Resolution Plan.

Shares of Adani Power Limited was last trading in BSE at Rs. 105.35 as compared to the previous close of Rs. 103.25. The total number of shares traded during the day was 389220 in over 8555 trades.

The stock hit an intraday high of Rs. 106.50 and intraday low of 103.55. The net turnover during the day was Rs. 40985278.00.

Source : Equity Bulls

Keywords

AdaniPowerLimited INE814H01011 ADANIPOWER ResolutionPlan EssarPowerMP NCLTApproval