The appointed date of the scheme would be 1 October 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, it added.

The six arms of Adani Power are also engaged in the business of generation and sale of power. The proposed amalgamation envisaged under this scheme is intended to achieve size, scalability, integration, improved controls, cost and resource use optimisation, greater financial strength and flexibility, thereby building a more resilient and robust organisation that address dynamic business situations and volatility in various economic factors in a focused manner, to achieve improved long-term financial returns.

Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India. It reported a consolidated net profit of Rs 218 crore in Q3 FY22 as against a net loss of Rs 289 crore in Q3 FY21. Total Income for Q3 FY 2022 was Rs 5,594 crore, down by 21% as against Rs 7,099 crore in Q3 FY 2020-21.