DB Power buys out investor GIP's stake, pays back Rs 500 cr loan

Power generation unit of Dainik Bhaskar Group was to be bought by Adani Power; deal called off

DB Power, the power generation unit of the Dainik Bhaskar Group that was to be bought over by Adani Power till last month, is now learnt to have taken over the stake of one of its investors.

Sources said DB Power had bought the share of private equity investor Global Infrastructure Partners (GIP) for Rs 400 crore in a deal funded completely through internal cash flows. It has also repaid a loan worth Rs 500 crore, sources said.

The company has improved its operations and profitability on the back of enhanced power demand and merchant power sale, they told 'Business