By Admin 
Gautam adani big move: Gautam Adani, India’s second richest man and veteran businessman, is constantly increasing the scope of his business in the country and abroad. In this sequence, he is going to buy a bankrupt company of Anil Ambani. In fact, there was a long -talk of acquisition of the acquisition of 600 MW butibori thermal power plant of 600 MW of Vidarbha Industries Power Limited (VIPL), a subsidiary company of Reliance Power, Adani Power Limited. This plant is located in Nagpur.
Purchase was approved for 4000 crores
Finally, on 18 June, the National Company Law Tribunal has approved Adani Power to buy VIPL for Rs 4000 crore. With this acquisition, Adani Power will help in increasing its capacity of power production and it will also be helpful in fulfilling the increasing power demand in the country.
Please tell that Adani Power had introduced the Samadhan Yojana for this acquisition. Now with the acquisition of NCLT, it will acquire 100 percent stake in VIPL. Along with the payment of Rs 4,000 crore for the acquisition of the company in the successful resolution scheme, the company has also agreed to pay the liabilities of Rs 6,753 crore.
Market Cap of Adani Power
On 24 February, Adani Power in his stock exchange filing had informed about the approval from the Committee of creditors (COC) for its solution plan for the acquisition of VIPL. Let us know that till June 19, the market capitalization of Adani Power was Rs 2.07 lakh crore.
On Thursday, the price of its share was Rs 533.20. In the March quarter of the FY25, the company’s net profit was recorded by 4 percent, which was Rs 2,637 crore against Rs 2,737 crore in the same period a year ago.
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