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Friday, March 29, 2024



Ambani-Adani POWER PACT: 26% share in Adani Power's MP project

Ambani-Adani POWER PACT

Ambani Adani POWER PACT: 26% share in Adani Power's MP project

In the first joint venture between opposing billionaires, Reliance Industries, led by Mukesh Ambani, has acquired a 26% share in Gautam Adani's Madhya Pradesh power project and agreed to use the 500 MW of electricity produced by the plants for internal use.

Reliance will purchase five crore equity shares at par (₹50 crore) in Mahan Energen Ltd, an Adani Power Ltd fully owned subsidiary.

The equity shares have a face value of ₹10.

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