Adani Power Approves "The Slump Sale" Of Its Mundra Undertaking

The board of directors of Adani Power Limited has considered and approved the slump sale of its Mundra Power Generating Business Undertaking, generating 4620 MW of power, to its subsidiary company, Adani Power (Mundra) Limited, said Adani Power Limited in a BSE filing on Tuesday.

This sale is for a lump sum consideration, without values being assigned to the individual assets and liabilities, it said.

The above transaction will put Mundra Undertaking at par with the other operating subsidiaries of the company, with specific strategic focus as well as specific financial arrangements, it added.

Adani Power Limited was trading at Rs 27.50, up by 0.25 or 0.92% as at 10.55 on Wednesday, on the BSE. The stock had hit a high of Rs 28.

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