Adani Power Ltd

Settlement details

• SEBI settlement order issued against Adani Power and directors Gautam S. Adani, Rajesh S. Adani, and Vneet Jaain.
• Settlement amount of INR 37,05,000; company states no material financial impact.
• Settlement offered without admission or denial of findings of fact and conclusions of law.
• Date of receipt by SEBI: September 28, 2026.
• Details of violations cited include Rule 19A of SCRR and SEBI Listing Regulations clauses.
• No actions taken by the company in relation to the order.

SEBI Settlement Order details

• SEBI Settlement Order issued against Adani Power Ltd, directors Gautam S. Adani and Rajesh S. Adani.
• Also involves erstwhile director Vneet Jaain.
• Settlement without admission or denial of the findings.
• Settlement amount INR 3.705 million; no material impact.
• Date of communication: September 28, 2026.
• Settlement relates to alleged violations of Rule 19A, Clauses 35 and 40A.
• Regulatory compliance: SEBI Settlement Regulations 2018.
• Note: no material impact on operations or strategy.
• Penalty: INR 3.705 million payable by company and directors.
• SEBI order available at SEBI website.

Meeting Details

• Board meeting on Oct 23, 2026 to approve unaudited results.
• Investor/analyst call on Oct 26, 2026 to discuss results and outlook.

Participants

• Participants: Board of Directors.
• Company Secretary to attend.

Purpose

• To approve unaudited results for quarter and half year.
• To discuss results and business outlook during investor call.

Additional Notes

• Details of the investor call will be intimated in due course.

Meeting Details

• Date: October 23, 2026; time and venue not disclosed.

Key Agenda Items

• To approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.

Other Notes

• Trading window closed Oct 1–26, 2026 for insiders.
• Investor/analyst call on Oct 26, 2026 to discuss results and outlook.
• Intimation uploaded on Adani Power's website.

Amalgamation effective

• Scheme becomes effective Sept 25, 2026; Appointed Date is April 1, 2025.
• Ten wholly owned subsidiaries amalgamated into Adani Power Limited; dissolved without winding up.
• Names of subsidiaries amalgamated include Adani Power Dahej Limited; Kutchh Power Generation Limited.
• Other subsidiaries: Resurgent Fuel Management Limited; Mahan Fuel Management Limited; Orissa Thermal Energy Limited.
• Other: Korba Power Limited; Anuppur Thermal Energy (MP) Private Limited; Mirzapur Thermal Energy (UP) Private Limited.
• Emberiza Infra Park Limited; Vidarbha Industries Power Limited.
• Scheme sanctioned by NCLT Ahmedabad (Aug 4, 2026) and NCLT Mumbai (Sept 24, 2026).
• All conditions to make Scheme effective fulfilled; effective date noted.

Amalgamation becomes effective

• The ten wholly owned subsidiaries have merged into Adani Power Limited and are dissolved without winding up.
• Appointed Date under the Scheme is April 1, 2025.
• Scheme sanctioned by NCLT for Ahmedabad and Mumbai benches on Aug 4 and Sep 24, 2026.
• Effective date of the Scheme is September 25, 2026.
• All conditions to make the Scheme effective have been fulfilled.
• All ten subsidiaries stand amalgamated with Adani Power Limited.
• Dissolution occurs without winding up as part of the amalgamation.

Amalgamation approvals and key terms

• NCLT Ahmedabad sanctioned amalgamation of transferors (i)-(ix) with Adani Power (order dated 4 Aug 2026).
• NCLT Mumbai sanctioned Vidarbha Industries Power Limited amalgamation with Adani Power (order dated 24 Sep 2026).
• Appointed date 1 April 2025; scheme becomes effective on completion of prescribed steps.
• Tenth Transferor Vidarbha Industries Power Limited to dissolve; assets and liabilities vest in Adani Power.
• Equity shares of transferors cancelled; no new equity issued upon coming into effect.
• Income Tax Department rights preserved; scheme not to affect ongoing or future tax actions.

Media clarification

• Clarifies Moneycontrol article claiming 51% JPPower stake is false; Adani Power has not taken such action.

Meeting Details

• Jefferies 5th India Forum; in-person; one-on-one and group meetings; 17 Sep 2026; Gurgaon.
• Bank of America 2026 Asia Pacific Conference; in-person; one-on-one and group; 21–22 Sep 2026; Hong Kong.
• Investor group meeting; in-person; group; 24 Sep 2026; Ahmedabad.
• Arihant Capital Bharat Connect 2026; virtual; group; 29 Sep 2026; Virtual.
• Purpose: investor/analyst interaction per listed schedule.