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Adani Power Buys Gmr Plant For Rs 4,792 Crore - The Financial Express

by financialexpress.com posted 2weeks ago 11 views
GMR Chhattisgarh had an outstanding debt of `5,926 crore as on March 31.: Adani Power on Thursday announced that it had acquired GMR Chhattisgarh Energy’s 1,370-MW plant for an enterprise value of `4,792 crore after the consortium of lenders, led by Axis Bank, approved the stake sale. This will be the third project to be resolved outside the insolvency route after Prayagraj Project of Jaiprakash Associates and SKS Power’s Binjkote project. GMR Chhattisgarh Energy, a subsidiary of GMR Infrastructure, ran into trouble due to the absence of a long-term power purchase agreement (PPA) for the super critical power project.

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