Adani Power Big News
The merger of all these 6 companies has been approved by the board of Adani Group.
Adani Power said its board of directors has approved an amalgamation plan for the merger of six of its wholly owned subsidiaries with itself.
The Board of Directors of Adani Power Limited in its meeting held on 22nd March approved the scheme of amalgamation of various wholly owned subsidiaries of the company.
After the merger of the six subsidiary companies, the entire assets and liabilities of all the companies will be transferred to Adani Power.
The objective of this scheme is to build Adani Power more resilient and stronger company.
Adani Power Merger
Following is the list of all the six subsidiaries that will be merged with Adani Power, as per BSE filings.
Adani Power Maharashtra Limited, Adani Power Rajasthan Limited, Adani Power (Mundra) Limited, Udupi Power Corporation Limited, Raipur Energy Limited and Raigad Energy Generation Limited
Let us tell you that all these six(6) companies are wholly owned subsidiary companies of Adani Power.
After the news of merger with Adani Pawar, there is a tremendous increase in the Adani power share price.
There will be no change in the equity shareholding pattern of the company under this merger plan. Because no shares are being issued by the firm.
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