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Updated: June 20, 2025 07:35
Inside the Deal: Gautam Adani’s energy arm, Adani Power, has received a green light from the National Company Law Tribunal (NCLT) to acquire Vidarbha Industries Power Ltd (VIPL)—a bankrupt thermal power company once owned by Anil Ambani’s Reliance Power. The Rs 4,000 crore resolution plan marks a strategic expansion of Adani’s power portfolio and a significant step in reviving a distressed asset.
Acquisition Highlights:
VIPL owns a 2x300 MW thermal power plant in Butibori, Nagpur
The company owed Rs 6,753 crore; Adani Power's resolution plan brings Rs 4,000 crore to the table
The plan was supported by 100% of the secured creditors and acceptable to the NCLT
VIPL had ceased to be part of Reliance Power's group in 2024 and slipped into insolvency under the IBC
Strategic Implications:
Acquisition further strengthens Adani Power's foothold in Maharashtra's industrial energy corridor
It aligns with Adani’s broader strategy of acquiring distressed infrastructure assets and turning them around
The move comes amid Adani Power’s push to scale up capacity and optimize operational synergies across its thermal portfolio
Why It Matters: This acquisition is more than a balance sheet play—it’s a signal of Adani’s continued appetite for strategic consolidation in India’s power sector. With regulatory clearance secured and no objections raised by stakeholders, the deal also underscores growing confidence in India’s insolvency resolution framework.
Sources: DNA India, ET Now, MSN News, LiveMint, Business Today, Financial Express, India TV News.
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