Adani Power to Acquire Vidarbha Power for ₹4,000 Cr

Adani Power has received approval from the NCLT Mumbai bench to acquire Vidarbha Industries Power Ltd (VIPL), pursuant to a resolution plan approved by VIPL’s secured creditors back in February 2024. The acquisition involves a ₹4,000 crore investment, giving Adani control of the 600 MW thermal power plant at Butibori, Nagpur

📆 Context & Timeline

• Feb 24, 2025: Committee of Creditors sanctioned Adani’s resolution plan, and Adani received a Letter of Intent (“LOI”) from the Resolution Professional
• Jun 19, 2025: NCLT formally approved the acquisition, clearing the final legal hurdle

🏭 Strategic Significance

1. Boost in Thermal Capacity: The 600 MW plant strengthens Adani’s foothold in thermal energy, complementing its existing Tiroda and Dahanu plants
2. Integration Potential: Maharashtra’s energy demand and proximity to Tiroda offer opportunities to consolidate coal-based operations effectively.
3. Corporate Insolvency Utilization: This is another high-value acquisition under IBC, following Adani’s takeover of assets like Coastal Energen and Lanco Amarkantak
4. Financial Upside: Adani Power’s stock saw a ~3% boost on LOI receipt; the full acquisition could further improve earnings via capacity utilisation
5. Energy Security: The addition helps diversify Adani’s generation mix amid fluctuating coal supply and rising demand.
6. Market Leadership: The move accelerates Adani’s emergence as a dominant private thermal producer in India.

🔜 What Happens Next?

• Regulatory Steps: Post‑NCLT approval, the deal requires final clearances and closure of corporate formalities.
• Integration Planning: Restoration of full operations at the Butibori plant and blending with Adani’s existing operations.
• Financial Execution: Final disbursement of the ₹4,000 cr payment as per IBC guidelines and resolution plan.

✅ Bottom Line

This ₹4,000 crore acquisition of Vidarbha Power is a bold, strategic move by Adani Power. It not only amplifies its capacity but also signals aggressive consolidation via IBC—cementing its leadership in India’s thermal power landscape.