Vedanta to buy Meenakshi Energy for Rs 14.40 billion

Vedanta Limited will acquire debt-ridden power plant Meenakshi Energy Limited for Rs 11.4 billion. Of the total consideration, the company will pay Rs 3.12 billion upfront and the remaining Rs 11.28 billion in the form of secured unlisted non-convertible debentures issued by Meenakshi Energy to the financial creditors.