Adani Power shares jump following NCLT approval for ten subsidiaries merger

Adani Power shares climbed following official confirmation that the company has secured the final regulatory approvals required to consolidate ten of its wholly owned subsidiaries, according to reporting by Livemint. The structural consolidation positions the energy firm to streamline operations across its generation portfolio, following a tribunal sanction that clears the amalgamation scheme for all designated entities.

The corporate restructuring milestone advanced through twin benches of the National Company Law Tribunal. According to company exchange filings, the latest clearance originated from the NCLT Mumbai Bench, which sanctioned the merger of Vidarbha Industries Power Ltd (VIPL) into Adani Power via an order dated September 24, 2026, uploaded to the tribunal portal on Friday, September 25, 2026. This decision dovetails with an earlier ruling delivered on August 4, 2026, by the NCLT Ahmedabad Bench, which greenlit the incorporation of the remaining nine subsidiary entities.

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Those nine integrated corporate entities encompass Adani Power Dahej Ltd, Kutchh Power Generation Ltd, Resurgent Fuel Management Ltd, Mahan Fuel Management Ltd, Orissa Thermal Energy Ltd, Korba Power Ltd, Anuppur Thermal Energy (MP) Pvt. Ltd, Mirzapur Thermal Energy (UP) Pvt. Ltd, and Emberiza Infra Park Ltd. While initial filings before the Ahmedabad Bench laid the groundwork for the bulk of the subsidiaries, a separate legal track was pursued in Mumbai specifically for VIPL. Corporate disclosures indicate that the official appointed date governing the mechanics of the scheme is April 1, 2025, though the transaction remains formally incomplete until all administrative execution steps outlined in the scheme framework are fulfilled.

The marketplace response builds upon a robust underlying financial performance reported earlier in the fiscal cycle. During the June quarter of fiscal year 2027, Adani Power posted a 47.24% year-on-year surge in net profit to ₹4,866.60 crore, supported by higher revenue and robust power demand. Profit before tax leaped nearly 50% to ₹6,300.49 crore, compared to ₹4,204.31 crore in the corresponding period of the previous year. Company leadership attributed the expansion to improved continuing profitability alongside higher one-time recognition of income related to prior periods during the quarter. Furthermore, Adani Power recognized ₹117.69 crore as its share of profit from an associate following its acquisition of a stake in Jaiprakash Power Ventures Ltd, lifting profit after tax from ₹3,305.13 crore recorded in Q1 FY26.

During the same June quarter, Adani Power recognized ₹1,386.34 crore of net revenue relating to prior periods, primarily due to revisions in historical energy charges under certain power purchase agreements. This compared with ₹406.21 crore recognized on the same account in Q1 FY26.

With the judicial tribunal hurdles cleared, market participants are now looking to the next operational milestones for the utility provider. Adani Power has formally committed to issuing a notification to the stock exchanges as soon as the amalgamation scheme reaches its legal effective date, culminating a process that was first brought to public attention through regulatory filings on October 30, 2025.