The merger scheme was approved by the National Company Law Tribunal (NCLT) benches in Ahmedabad and Mumbai, with the Ahmedabad bench issuing its order on August 4 and the Mumbai bench approving the scheme on September 24.
The subsidiaries covered by the scheme include Adani Power Dahej, Resurgent Fuel Management, Mahan Fuel Management, Orissa Thermal Energy, Korba Power, Anuppur Thermal Energy, Mirzapur Thermal Energy, Emberiza Infra Park and Vidarbha Industries Power.
Kutchh Power Generation, a step-down wholly owned subsidiary of Adani Power, is also part of the merger.
Adani Power said all conditions required for the scheme to take effect had been fulfilled. As a result, the 10 subsidiaries have been merged into Adani Power and will cease to exist as separate legal entities without undergoing liquidation.
The scheme’s appointed date, from which the merger is deemed to take effect for the purposes specified under the scheme, is April 1, 2025.
Shares of Adani Power closed at ₹202.75 on the NSE on September 25, down ₹3.27, or 1.64%, from the previous close.