Adani Power shares rose in July 8 trading session after completing the acquisition and resolution plan implementation of Vidarbha Industries Power Ltd. (VIPL) for an aggregate consideration of Rs 4,000 crore.
Shares of Adani Power surged nearly 3 percent to an intraday high of Rs 615 per share on the NSE. Later at around 9:45 a.m., the counter trimmed some of its gains to trade higher at Rs 604.9 apiece, up 1.3 percent. Shares of the company have been gaining for the last two days.
VIPL is a 2×300 MW domestic coal-fired power plant located in Butibori, Nagpur district of Maharashtra. The company was undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). On June 18, 2025, the Mumbai Bench of the National Company Law Tribunal (NCLT) approved Adani Power’s resolution plan. Subsequently, the plan was successfully implemented on July 7, 2025.
"As we continue expanding our portfolio, we remain committed to supporting India’s vision of ‘Electricity for All’ by delivering reliable, affordable base-load power that fuels the country’s sustainable growth," said SB Khyalia, Chief Executive Officer, Adani Power Ltd.
Adani Power takes its operating capacity to 18,150 MW with this acquisition, the company said.
"It is currently constructing six brownfield Ultra-supercritical power plants (USCTPP) of 1,600 MW each at its existing locations at Singrauli-Mahan in Madhya Pradesh, Raipur, Raigarh, and Korba in Chhattisgarh, and Kawai in Rajasthan, in addition to a 1,600 MW greenfield USCTPP at Mirzapur, Uttar Pradesh. With this, APL would cement its position as India’s largest private base load power generation company with 30,670 MW of operational capacity by 2030," it added.
Meanwhile, Jefferies is bullish on Adani Power, tagging a 'Buy' recommendation with a price target of Rs 690.
"The company is poised for strong capacity addition. The company's risk profile is reducing with capacity being locked in with profitable Power Purchase Agreements (PPAs). Recent payments from Bangladesh have also eased investor concerns. EBITDA is expected to double by FY30. Trading at 4x P/B," it said.
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