Adani Power surges on plan to acquire Lanco's 1,200 MW Udupi thermal power plant.

   

     Adani Power is planning to buy Lanco Infratech's 1,200 MW Udupi thermal power plant in Karnataka. The deal is valued at more than Rs 6,000 crore including Rs 4,000 crore debt component of Lanco.
     This transaction will support the company in reducing its debt and will enable Lanco to receive about Rs 2,000 crore as cash and additionally. While 90% of the electricity generated from the plant is supplied to Karnataka, the remaining is given to Punjab.
     Currently, Adani Power has an installed generation capacity of about 8,580 MW. The proposed acquisition would help in expanding its portfolio.
     Adani Power is engaged in the businedd of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever. 
     The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 8.16% and 16.84% respectively.
     The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs 68.50 on 26-May-2014 and a 52 week low of Rs 31.16 on 04-Sep-2013.
     Adani Power is currently trading at Rs 53.55, up by 1.50 points or 2.88% from its previous closing of Rs 52.05 on the BSE.