Adani Power share price rose nearly 2% on Friday, 25 September, after its proposed scheme to merge 10 wholly owned subsidiaries with the company received the requisite approvals from the National Company Law Tribunal (NCLT).
According to the company’s exchange filing, the latest approval came from the NCLT Mumbai Bench, which sanctioned the merger of Vidarbha Industries Power Ltd (VIPL) with Adani Power through an order dated 24 September 2026. The order was uploaded on the NCLT website on 25 September, the company said.
The approval completes the tribunal process for the proposed amalgamation, with the NCLT Ahmedabad Bench having earlier sanctioned the merger of the remaining nine subsidiaries through its order dated 4 August 2026.
The nine entities approved by the Ahmedabad Bench are Adani Power Dahej Ltd, Kutchh Power Generation Ltd, Resurgent Fuel Management Ltd, Mahan Fuel Management Ltd, Orissa Thermal Energy Ltd, Korba Power Ltd, Anuppur Thermal Energy (MP) Pvt. Ltd, Mirzapur Thermal Energy (UP) Pvt. Ltd and Emberiza Infra Park Ltd.
Adani Power said the scheme was originally filed before the NCLT Ahmedabad Bench for the first nine subsidiaries, while the Mumbai Bench was approached for VIPL.
Scheme effective from completion of required steps
The company said the appointed date for the scheme is 1 April 2025. However, the merger will become effective only after completion of the steps specified under the approved scheme.
Adani Power said it will inform the stock exchanges once the scheme becomes effective.
The company had first informed the exchanges about the proposed scheme of amalgamation on 30 October 2025, according to its latest filing.
Adani Power Q4 results
Adani Power reported a 47.24% year-on-year increase in net profit to ₹4,866.60 crore for the June quarter of FY27, supported by higher revenue and robust power demand.
The company’s profit before tax (PBT) surged nearly 50% to ₹6,300.49 crore in Q1 FY27, compared with ₹4,204.31 crore in the year-ago quarter. Adani Power attributed the growth to improved continuing profitability, along with higher one-time recognition of income related to prior periods during the quarter.
Adani Power also recognised ₹117.69 crore as its share of profit from an associate following its acquisition of a stake in Jaiprakash Power Ventures Ltd.
As a result, profit after tax rose to ₹4,866.60 crore from ₹3,305.13 crore in Q1 FY26, the company said.
During the quarter, Adani Power recognised ₹1,386.34 crore of net revenue relating to prior periods, primarily due to revisions in historical energy charges under certain power purchase agreements (PPAs). This compares with ₹406.21 crore recognised on the same account in Q1 FY26.
