Adani Power rises on completing acquisition of EPMPL
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Adani Power is currently trading at Rs. 124.50, up by 1.65 points or 1.34% from its previous closing of Rs. 122.85 on the BSE.
The scrip opened at Rs. 125.05 and has touched a high and low of Rs. 125.65 and Rs. 124.25 respectively. So far 56157 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 167.05 on 09-Jun-2021 and a 52 week low of Rs. 69.95 on 24-Aug-2021.
Last one week high and low of the scrip stood at Rs. 127.10 and Rs. 120.30 respectively. The current market cap of the company is Rs. 47382.49 crore.
The promoters holding in the company stood at 74.97%, while Institutions and Non-Institutions held 16.56% and 8.46% respectively.
Adani Power has completed the acquisition of 100% of paid up share capital and management control of Essar Power M P (EPMPL), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code. The cost of acquisition of EPMPL along with rehabilitation cost is over Rs 4,250 crore for 1200 MW power plant, including estimated cost of compliance on environmental and emission norms.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
