NCLT clears merger of 10 companies into Adani Power
NCLT approves merger of Vidarbha Industries Power and nine other subsidiaries into Adani Power, effective from April 1, 2025.
Adani Power Limited, the flagship power company of industrialist Gautam Adani, has received all the approvals needed for its merger scheme, with a total of 10 companies now set to merge into it.
The National Company Law Tribunal's Mumbai bench, in an order dated September 24, 2026, allowed Vidarbha Industries Power Limited (VIPL) to merge into Adani Power. The move is seen as a significant step towards simplifying the corporate structure of the large power company.
Earlier, the NCLT's Ahmedabad bench, in an order dated August 4, 2026, had approved the merger of nine other wholly owned subsidiaries. These nine companies are Adani Power Dahej Limited, Kutch Power Generation Limited, Resurgent Fuel Management Limited, Mahan Fuel Management Limited, Odisha Thermal Energy Limited, Korba Power Limited, Anuppur Thermal Energy MP Private Limited, Mirzapur Thermal Energy UP Private Limited and Emberiza Infra Park Limited. With VIPL now included alongside these nine, a total of 10 companies will merge into Adani Power.
The appointed date for the entire consolidation scheme is April 1, 2025. Adani Power said the scheme will take full effect once the remaining procedural steps are completed, at which point the relevant stock exchanges will be informed. According to the company, the aim of this strategic consolidation is to expand the scale of operations, improve the governance structure and reduce legal and compliance-related costs.
VIPL, which operates a 600 MW thermal power plant in Nagpur, Maharashtra, will be integrated with Adani Power's existing network of thermal and solar power projects with a combined capacity of 14,550 MW. This is expected to further strengthen the company's combined asset base and overall efficiency.
Meanwhile, Adani Power's share is currently priced at Rs 203, with the company's market capitalisation at Rs 3,91,479 crore. The stock has delivered a return of 33.88 percent over the past year, 38.25 percent over three years, and 59.76 percent over five years.
