The Adani Power Limited (APL), a part of the diversified Adani Group, is a company incorporated under the laws of India. APL is the leading private sector thermal power producer in India. APL operates its thermal power plants across multiple states in India, including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Jharkhand and Madhya Pradesh. APL has strong capabilities in engineering, procurement, construction, commissioning, operations, and maintenance of large supercritical units.
The Dickey Alternative Investment Trust (DAIT), is a category II AIF registered with the Securities and Exchange Board of India (SEBI), housing three separate schemes registered with SEBI, Dickey Vision Fund, Dickey Mudra Fund and Dickey Opportunities Fund. The DAIT has investments across multiple sectors including but not limited to real estate, technical and management consultancy, and energy generation
The Coastal Energen Private Limited (CEPL) is engaged in the business of generation and sale of power using coal. It owns and operates an imported coal based thermal power plant at Tuticorin in the State of Tamil Nadu, India. CEPL is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (I&B Code).
The proposed combination relates to the acquisition of 100% equity share capital of CEPL by the DAIT and APL. (Proposed Combination).
Detailed order of the Commission will follow.
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