Vedanta acquires Meenakshi Energy

The company Vedanta Limited is engaged in the extraction and processing of minerals, oil, and gas.. The company announced its plans to acquire M/s. Meenakshi Energy Limited in a filing with the exchange on 18^th January, 2023.

Meenakshi Energy Limited is engaged in developing Hydel Power, Thermal Power, and renewable energy generation plants.

 

Vedanta gets a 1000 MW coal-based power station from Meenakshi as a part of this deal.

 

The overall cost of the acquisition is Rs. 1,440 crore. Vedanta would make payments of Rs. 312 crores in cash and Rs. 1,128 in secured non-convertible debentures (NCDs).