Adani Power shareholders’ nod to Mundra plant hive-off plan

Adani Power Limited’s shareholders have approved the proposal to hive off its flagship 4,620 MW Mundra power station to its subsidiary, Adani Power (Mundra) Limited. The resolution was passed by the equity shareholders of the company with the requisite majority. The move is aimed at enabling the company to focus on investment and power generation separately. This transaction will put the Mundra undertaking at par with other operating subsidiaries of the firm.