Adani group company Adani Power Ltd has decided to call off its plan to acquire DB Power Ltd, which owns and operates a 2x600MW (megawatt) thermal power plant in Janjgir Champa district of Chhatisgarh.
Almost a month after Hindenburg Research report lopped off $132 billion in market value from Gautam Adani’s empire, the Indian billionaire has hired top-shelf US crisis communication and legal teams, scrapped a $850 million coal plant purchase, reined in expenses, repaid some debt and promises to repay more