Adani Power has received an approval for amalgamation of Growmore Trade and Investment with itself from the appointed date i.e. April 01, 2011. The company has received an approval for amalgamation at its board meeting held on July 07, 2011.
As part of amalgamation, 16,615 equity shares of Adani Power of Rs 10 each would be swapped for every 10,000 ordinary share of Growmore of USD 1 each. After the scheme being effective, on the basis of above referred share swap ratio, about 21.32 crore equity shares of Rs 10 each will be issued.
Recently, Adani Power --had successfully synchronized the second supercritical unit of 660-MW at its state of art power plant in Mundra, in Kutch district of Gujarat, taking the total generation capacity to 2,640 MW. Thus, with this Adani Power becomes the largest thermal power producer in the country in the private sector. Adani Power in total had planned to commission 6,000 MW in this financial year, out of which 4,620 MW will be in Mundra and 1,320 MW shall be at Tiroda in Maharashtra.
