Adani Power board approves merging six arms with itself

Adani Power Limited’s board has approved an amalgamation scheme for the merger of its six wholly-owned subsidiaries with itself

The board has approved the scheme of amalgamation of various wholly-owned subsidiaries of the company, viz. Adani Power MaharashtraLimited, Adani Power RajasthanLimited, Adani Power (Mundra)Limited, Udupi Power CorporationLimited, Raipur EnergenLimited, and Raigarh Energy Generation Limitedwith Adani Power. The appointed date of the scheme would be October 1, 2021. The entire assets and liabilities of the transferor companies to be transferred to and recorded by the company at their carrying values. There will be no change in the equity shareholding pattern of the company under the scheme, as no shares are being issued by the firm in connection with the scheme.