Hot Pursuit     10-Jul-24
RIL acquires 26% stake in Mahan Energen’s unit
Reliance Industries (RIL) has acquired a 26% stake in a 600 MW unit of Mahan Energen’s thermal power plant.
Adani Power informed that its wholly owned subsidiary, Mahan Energen (MEL) had entered into a 20-year long-term power purchase agreement for 500 MW with RIL.

RIL has subscribed to, and MEL has issued and allotted to it 5 crore equity shares with face value of Rs 10 each, translating to 26% proportionate ownership stake in the unit. This unit, part of MEL's total capacity of 2,800 MW, is designated as the captive unit for the agreement.

This allotment will enable RIL to source reliable power supply from the captive unit under the exclusive arrangement between the two corporates and demonstrate the advantage of this mutually beneficial arrangement by enhancing MEL’s long-term revenue visibility, stated Adani Power in an exchange filing.

Consequent to this issuance, MEL has now ceased to be a wholly owned subsidiary of Adani Power.

Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 15,210 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat.

Reliance Industries (RIL) is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, renewables (solar and hydrogen), retail and digital services.

Shares of RIL shed 0.79% to Rs 3,155 and Adani Power declined 0.10% to Rs 724.60 on the BSE.

Previous News
  Bharat Heavy Electricals secures LoA from Adani Power
 ( Corporate News - 27-Jun-25   17:11 )
  Reliance Industries Ltd soars 1.56%, Gains for third straight session
 ( Hot Pursuit - 27-Jun-25   13:05 )
  Adani Power Ltd up for fifth session
 ( Hot Pursuit - 27-Jun-25   13:00 )
  Nifty June futures trade at discount
 ( Market Commentary - Futures Market 20-Jun-25   16:16 )
  Nifty June futures trade at premium
 ( Market Commentary - Futures Market 13-Jun-25   16:23 )
  Volumes spurt at Jindal Saw Ltd counter
 ( Hot Pursuit - 10-Jun-25   14:30 )
  Adani Power Ltd up for five straight sessions
 ( Hot Pursuit - 10-Jun-25   13:00 )
  Afcons Infrastructure secures work order worth Rs 700 cr
 ( Corporate News - 09-Jun-25   09:41 )
  Nifty June futures trade at premium
 ( Market Commentary - Futures Market 05-Jun-25   16:27 )
  Telecom stocks in action after TRAI data
 ( Hot Pursuit - 29-May-25   14:56 )
  Adani Power Ltd Spikes 2.08%, BSE Power index Rises 1.03%
 ( Hot Pursuit - 26-May-25   09:30 )
Other Stories
  Apollo Hospital rallies after board OKs demerger of digital & pharmacy units
  01-Jul-25   16:22
  NCC gains after bagging Rs 1,691-cr new orders in June 2025
  01-Jul-25   15:27
  Eicher Motors CV sales decline 0.82% YoY in June’25
  01-Jul-25   15:20
  Bharat Electronics gains on bagging Rs 528 cr additional orders
  01-Jul-25   15:15
  Atul Auto reports 3% YoY increase in June’25 sales
  01-Jul-25   15:14
  Ashok Leyland's total sales rises 3% YoY in June 25
  01-Jul-25   15:08
  TVS Motor registers total auto sales to 4.02 lakh units in June’25
  01-Jul-25   15:03
  M&M total sales rises 14% YoY to 78,969 units in June’25
  01-Jul-25   15:02
  Force Motors Ltd leads losers in 'A' group
  01-Jul-25   15:00
  RailTel Corp bags Rs 16-cr work order from Cuttack Development Authority
  01-Jul-25   14:49
Back Top