Adani Power will acquire Lanco Infratech's 1,200 MW Udupi thermal plant in a deal worth over Rs 6,000 crore.
Lanco Infratech's scrip rose by 4.92 per cent to Rs 8.95 on the BSE.
Similarly, shares of Adani Power gained 3.65 per cent to Rs 53.95.
Adani Power would acquire Lanco Infratech's 1,200 MW imported coal-fired Udupi thermal power plant in Karnataka.
Making the announcement, Lanco Infratech said the deal is "is valued at more than Rs 6,000 crore". It includes Rs 4,000 crore debt component.