Adani Power Limited — JV/Acquisition, 16-11-2024: Amalgamation/Merger

Adani Power Limited will amalgamate its wholly-owned subsidiary, Adani Power (Jharkhand) Limited, into itself to enhance operational scale and efficiency. The merger, effective from April 1, 2024, aims to streamline the corporate structure, improve creditworthiness, and optimize resource utilization, which is expected to strengthen the combined entity's financial position. No shares will be issued to the transferor company’s stakeholders; their equity will be canceled upon the scheme's effectiveness, with potential future benefits directed towards streamlined management and operational efficiencies for shareholders.