To Adani Power
Lanco Infratech announced that it has successfully completed the sell-off of its Udupi power plant to Adani Power, making it the largest acquisition in India in the thermal power sector. The transaction was announced in August 2014, as part of Lanco's debt restructuring strategy.Following the completion of the transaction, Lanco Infratech has realised the enterprise value of around Rs 6300 crore by reducing its long term debt and realising its equity value. The deal helped Lanco to reduce its debt position - long term and short term debt now at Rs 4275 crore and Rs 2147 crore respectively
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