Adani Power receives NCLT's approval for merger of six subsidiaries

As many as nine Adani Group firms were trading in the negative territory, while one company was trading in the green

The National Company Law Tribunal (NCLT) on Thursday approved the merger of Adani Power Maharashtra, Adani Power Rajasthan, Udupi Power Corporation, Raipur Energen, Raigarh Energy Generation, and Adani Power (Mundra) with Adani Power, a unit of the Adani Group.

"We would like to inform that the National Company Law Tribunal, Bench at Ahmedabad has sanctioned the Scheme of Amalgamation of Six Wholly Owned Subsidiary Companies of Adani Power Limited (“APL"). These companies are: Adani Power Maharashtra Limited; (ii) Adani Power Rajasthan Limited; (iii) Udupi Power Corporation Limited; (iv) Raipur Energen Limited; (v) Raigarh Energy Generation Limited; and (vi) Adani Power