Whalesbook
Adani Power ki thermal capacity mein zabardast izafa!
Adani Power ne India ke thermal power sector mein apni position aur mazboot kar li hai. Unhone Jaiprakash Power Ventures (JPVL) ke assets khareede hain. Is deal se Adani ki total generation capacity badhegi aur JPVL ke energy aur mining business bhi unke control mein aa jayenge. Market mein isse bade changes aa sakte hain.
Yeh deal NCLT approval ke 90 din ke andar poori ho jayegi, jo March 2026 mein mili thi. Ye Adani Power ke growth plan ka ek important hissa hai.
Kya kya kharida hai Adani Power ne?
Adani Power ne JPVL mein 24% stake ₹2,993.6 crore mein aur Churk thermal power plant apne related assets ke saath ₹1,200 crore mein khareeda hai. Ismein Prayagraj Power Generation Company Ltd. ka 11.49% stake bhi shamil hai. Total deal value ₹4,193.6 crore bani hai. In naye assets se Adani Power ki generation capacity mein accha khasa izafa hoga.
JPVL ke paas 2,220 MW ka thermal aur hydro power portfolio hai, saath hi mining aur cement grinding business bhi hai. Adani Power ka stock (ADANIPOWER) pichle saal 99.73% bhaga hai. Dusri taraf, Jaiprakash Power Ventures (JPPOWER) ka performance ab tak average raha hai, share ₹13.15 se ₹27.70 ke beech raha hai.
Valuation aur Market Position
Adani Power ka trailing twelve-month (TTM) P/E ratio lagbhag 32.74 hai aur market cap ₹4.25 lakh crore hai. Jaiprakash Power Ventures ka TTM P/E ratio 35.79 hai aur market cap ₹12,549 crore hai. JPVL ka P/E ratio industry median 19.65 se kaafi zyada hai, jisse lagta hai ki JPVL ko uske peers ke muqable mein thoda premium mil raha hai.
Is acquisition se Adani Power ko JPVL ke operational assets aur synergy se growth ka fayda milega. Regulatory approvals bhi mil gaye hain, jaise ki Competition Commission of India (August 2025) aur National Company Law Appellate Tribunal (NCLAT) se (May 2026).
Potential Risks aur Challenges
Is deal mein kuch risks bhi hain. Jaiprakash Power Ventures ki sales growth pichle 5 saal mein sirf 11.0% rahi hai aur return on equity (ROE) bhi pichle 3 saal mein 7.56% raha hai. Promoter ne apne 73.0% holdings pledge bhi kiye hain, jo financial pressure ka ishara ho sakta hai.
NCLAT ne resolution plan ko support kiya hai, lekin Vedanta ne pehle valuation ko lekar challenge kiya tha, jo dikhata hai ki bidding process complicated ho sakta hai. Adani Power ko in naye assets ko successfully integrate karna hoga aur efficiency badhani hogi.