Mumbai, Feb. 26 -- Adani Power has received approval to acquire Vidarbha Industries Power Ltd (VIPL), a company that was previously owned by Anil Ambani's Reliance Power, reported ET Now.

VIPL had been undergoing insolvency proceedings, and Reliance Power confirmed last year that it was no longer its subsidiary.

The takeover remains subject to approval from the National Company Law Tribunal (NCLT), Mumbai, and other regulatory authorities.

Adani Power further stated that it received a Letter of Intent (LOI) from the Resolution Professional (RP) on February 24, 2025.

However, the company has not disclosed the financial details of the acquisition.

Meanwhile, Adani Power, which has a market capitalisation of Rs 1.91 lakh crore, saw its ...