AI assistant
Adani Power Limited — M&A Activity 2026
May 21, 2026
62310_rns_2026-05-21_165b2f45-adaa-4e59-8e97-6fe0b46d4e36.pdf
M&A Activity
Open in viewerOpens in your device viewer
adani Power
May 21, 2026
BSE Limited
Floor 25, P J Towers,
Dalal Street,
Mumbai – 400 001
Scrip Code: 533096
National Stock Exchange of India Limited
Exchange Plaza,
Bandra Kurla Complex,
Bandra (E), Mumbai – 400 051
Scrip Code: ADANIPOWER
Dear Sirs,
Sub.: Updated Disclosure under Regulation 30 (Disclosure of events or information) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Acquisition of certain power assets and investments of Jaiprakash Associates Limited.
We refer to our earlier intimation dated March 19, 2026, wherein we had intimated that we had expressed our in-principle interest in becoming one of the "Implementing Entities" under the NCLT approved resolution plan for Jaiprakash Associates Limited ("Approved Resolution Plan") submitted by Adani Enterprises Limited ("AEL" or "Resolution Applicant"), for acquiring certain power assets and investments of Jaiprakash Associates Limited ("JAL"), subject to necessary approvals.
We now wish to inform that, pursuant to the above, and as part of the implementation of the Approved Resolution Plan, the Company has entered into the following definitive agreements with JAL :
(a) Share Purchase Agreement for acquisition of 24% shares of Jaiprakash Power Ventures Limited (a listed entity), held by JAL; and
(b) Business Transfer Agreement for acquisition of the 180 MW thermal power plant of JAL located in Churk and other related assets, including 11.49% shares of Prayagraj Power Generation Company Limited, held by JAL.
The aforesaid acquisitions are being undertaken as per the terms of the Approved Resolution Plan and are expected to be consummated on the 'Effective Date' under the Approved Resolution Plan.
Any material updates in relation to the above shall be disclosed from time to time in accordance with applicable law.
The detailed disclosure with respect to the said acquisitions, as required to be furnished pursuant to Regulation 30 read with Para A of Part A of Schedule III of SEBI Listing Regulations and SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 last updated as on 30th January, 2026, is enclosed herewith as "Annexure – A".
Adani Power Limited
"Adani Corporate House"
Shantigram, Near Vaishno Devi Circle,
S. G. Highway, Khodiyar,
Ahmedabad-382421, Gujarat India
CIN: L40100GJ1996PLC030533
Tel +91 79 2656 7555
Fax +91 79 2555 7177
[email protected]
www.adanipower.com
Registered Office: "Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421
adani
Power
We request you to kindly take the above on record.
Thanking you,
Yours faithfully,
For Adani Power Limited
PUNEET Digitally signed by
PUNEET BANSAL
BANSAL
Date: 2026.05.21
15:18:31 +03'30'
Puneet Bansal
Company Secretary
Adani Power Limited
"Adani Corporate House"
Shantigram, Near Vaishno Devi Circle,
S. G. Highway, Khodiyar,
Ahmedabad-382421, Gujarat India
CIN: L40100GJ1996PLC030533
Tel +91 79 2656 7555
Fax +91 79 2555 7177
[email protected]
www.adanipower.com
Registered Office: "Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421
adani
Power
ANNEXURE A
DETAILS REQUIRED UNDER THE LISTING REGULATIONS READ WITH SEBI MASTER CIRCULAR NO. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 LAST UPDATED AS ON 30TH JANUARY 2026.
| SR. NO. | PARTICULARS | DETAILS |
|---|---|---|
| (a) | Name of the target entity, details in brief such as size, turnover etc.; | 1. Acquisition of 24% of the shareholding of Jaiprakash Power Ventures Limited ("JPVL"), a listed entity, held by JAL. |
| 2. Acquisition of the 180 MW thermal power plant of JAL located in Churk, and other related assets, including 11.49% of the shareholding of Prayagraj Power Generation Company Limited held by JAL. For other details, please refer Sr. No. (j) of this table. | ||
| (b) | Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? | |
| If yes, nature of interest and details thereof and whether the same is done at "arm's length"; | No | |
| (c) | Industry to which the entity being acquired belongs: | Power generation |
| (d) | Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity): | The target assets/entities are engaged in power generation and are aligned with the Company's primary business activities. |
| (e) | Brief details of any governmental or regulatory approvals required for the acquisition: | Competition Commission of India approval has already been obtained on August 26, 2025. |
| The Approved Resolution Plan was approved by the National Company Law Tribunal, Allahabad |
Adani Power Limited
"Adani Corporate House"
Shantigram, Near Vaishno Devi Circle,
S. G. Highway, Khodiyar,
Ahmedabad-382421, Gujarat India
CIN: L40100GJ1996PLC030533
Tel +91 79 2656 7555
Fax +91 79 2555 7177
www.adanipower.com
Registered Office: "Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421
adani
Power
| SR. NO. | PARTICULARS | DETAILS |
|---|---|---|
| bench at Prayagraj on March 17, 2026 (read with the clarificatory order dated May 08, 2026), which was further upheld by the National Company Law Appellate Tribunal on May 04, 2026. | ||
| (f) | Indicative time period for completion of the acquisition: | The acquisition is expected to be consummated on the ‘Effective Date’ under the Approved Resolution Plan, which shall not be later than 90 (ninety) days from the March 17, 2026 (i.e., the NCLT approval date of the Approved Resolution Plan). |
| (g) | Nature of consideration - whether cash consideration or share swap and details of the same; | In Cash |
| (h) | Cost of acquisition or the price at which the shares are acquired: | 1. For 24% of the shareholding of JPVL, held by JAL: INR 2,993,59,08,147.6 (Indian Rupees Two Thousand Nine Hundred and Ninety Three Crores Fifty Nine Lakhs Eight Thousand One Hundred and Forty Seven Point Six) |
| 2. For 180 MW thermal power plant of JAL located in Churk and other related assets, including 11.49% shares of Prayagraj Power Generation Company Limited, held by JAL: INR 1,200,00,00,000 (Indian Rupees One Thousand Two Hundred Crores only) | ||
| (i) | Percentage of shareholding / control acquired and / or number of shares acquired; | 1. 24% of the shareholding of JPVL, held by JAL. |
| 2. 180 MW thermal power plant of JAL located in Churk and other related assets, including 11.49% shares of Prayagraj Power Generation Company Limited, held by JAL. | ||
| (j) | Brief background about the entity acquired in terms of products / line of | Jaiprakash Power Ventures Limited - JPVL is engaged |
Adani Power Limited
"Adani Corporate House"
Shantigram, Near Vaishno Devi Circle,
S. G. Highway, Khodiyar,
Ahmedabad-382421, Gujarat India
CIN: L40100GJ1996PLC030533
Tel +91 79 2656 7555
Fax +91 79 2555 7177
www.adanipower.com
Registered Office: "Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421
adani
Power
| SR. NO. | PARTICULARS | DETAILS |
|---|---|---|
| business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief). | primarily in the business of thermal and hydro power generation and cement grinding. JPVL presently owns and operates three Power plants with an aggregate capacity of 2,220 MW and 2 MTPA Cement Grinding Unit. | |
| Details of Last 3 years' turnover: | ||
| Year Turnover (in INR Lakhs) | ||
| 2025-26 579,085 | ||
| 2024-25 570,630 | ||
| 2023-24 715,100 | ||
| Date of Incorporation: December 21, 1994 | ||
| Country of Presence: India | ||
| Churk Power Plant of JAL - 180 MW Power Generation plant at Village- Churk, Tehsil - Robertsganj, District- Sonbhadra, Uttar Pradesh. |
Adani Power Limited
"Adani Corporate House"
Shantigram, Near Vaishno Devi Circle,
S. G. Highway, Khodiyar,
Ahmedabad-382421, Gujarat India
CIN: L40100GJ1996PLC030533
Tel +91 79 2656 7555
Fax +91 79 2555 7177
www.adanipower.com
Registered Office: "Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421