Adani Power Board of Directors Approve Slump sale of its Mundra Undertaking
Shital Jibhe / 07 Jun 2017
In a BSE filing on Tuesday, Adani Power Limited said that the board of directors of Adani Power Limited has approved the slump sale of its Mundra Power Generating Business Undertaking, generating 4620 MW of power, to its subsidiary company, Adani Power (Mundra) Limited.
In a BSE filing on Tuesday, Adani Power Limited said that the board of directors of Adani Power Limited has approved the slump sale of its Mundra Power Generating Business Undertaking, generating 4620 MW of power, to its subsidiary company, Adani Power (Mundra) Limited.
It further said that the sale was for a lump sum consideration, without values being assigned to the individual assets and liabilities.
The above transaction will put Mundra Undertaking at par with the other operating subsidiaries of the company, with specific strategic focus as well as specific financial arrangements, it added.
Trading at Rs 27.50, Adani Power Limited was up by 0.25 or 0.92% as at 10.55 on Wednesday, on the BSE. The stock had hit a high of Rs 28.
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