The Competition Commission of India (CCI) approves acquisition by Adani Power Limited (Acquirer) of share capital of Diliigent Power Private Limited (Diliigent Power) and DB Power Limited (DB Power) [Diliigent Power and DB Power are collectively referred to as Targets].
The Proposed Combination involves the acquisition of the 100% of the share capital and economic rights of the Targets by the Acquirer.
The Acquirer is a public listed company incorporated in India with its shares listed on BSE Limited as well as the National Stock Exchange of India Limited. The Acquirer is a power company with eight operational power plants in India. It has power generation capacity of 13,650 MW comprising thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh and a 40 MW solar power project in Gujarat.
Diliigent Power is primarily engaged in the activities of a holding company. It also provides project management and consultancy services, limited to DB Power.
DB Power operates a coal based thermal power plant with an installed capacity of 1200 MW per hour in Chhattisgarh.
Detailed order of the CCI will follow.