Adani Power Limited’s Rs 70.17 billion deal to buy thermal power assets of DB Power Limited has fallen after the the long stop date under the memorandum of understanding dated August 18, 2022 expired.
In August 2022, Adani Power had informed the bourses that it has agreed to acquire DB Power, which owns and operates a running 2×600 MW thermal power plant at district Janjgir Champa in Chhattisgarh. The initial term of the memorandum of understanding was October 31, 2022. Later the deadline for the transaction got four extensions till November 30, 2022, December 31, 2022, January 15, 2023 and February 15, 2023.