Shares of Adani Power rose over 2% early on Friday, August 23, following positive news. The company’s stock opened at ₹687 on the NSE, marking a 1.9% increase from the previous closing price. It briefly hit ₹689, reflecting a 2.2% gain.
This surge came after Adani Power received approval from the National Company Law Tribunal (NCLT) to acquire Lanco Amarkantak Power Ltd (LAPL). The acquisition involves an upfront payment of ₹4,101 crore.
LAPL is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. Adani Power plans to buy 100% of LAPL’s shares for the agreed cash amount.
LAPL operates a 600 MW thermal power plant in Chhattisgarh and is expanding with an additional 1320 MW capacity. Most of its power is supplied to Haryana and Madhya Pradesh through long-term agreements.
The acquisition is expected to be completed within 60 days from NCLT’s approval. This move will strengthen Adani Power’s position as a major private power producer in India, increasing its total operational capacity to 15,850 MW.
