CCI approves Adani Power bid to acquire 49 pct of total equity share capital of Odisha Power

The Competition Commission of India (CCI) on Thursday approved the proposed acquisition of 49 per cent of the total equity share capital of Odisha Power Generation Corporation Limited (OPGC) by Adani Power Limited (APL). The proposed transaction relates to the acquisition of 49 per cent of the total equity share capital of OPGC by APL (Proposed Combination).

APL, is a public listed company and its shares are listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. It is a part of the Adani Group, which is engaged in the business operations of generation, transmission and distribution of power in India. APL is primarily engaged in the business of power generation.

OPGC, incorporated in Odisha, is a joint venture between Government of Odisha, AES India Private Limited and AES OPGC Holding and operates as a state government company. OPGC is engaged in the business of power generation.

See Zee Business Live TV streaming below:

In June 2020, Adani Power had announced acquiring US-based The AES Corporation's 49 per cent stake in OPGC for $135 million (around Rs 1,019 crore). OPGC operates a 1,740 MW thermal power plant at Banharpalli in Jharsuguda district, Odisha. The Odisha government holds 51 per cent stake in OPGC.