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Business News/ Videos / Companies/  Rivals Turn Partners: Adani, Ambani Sign ‘Power-Pact’ | What Brought Them Together? | Details

Rivals Turn Partners: Adani, Ambani Sign ‘Power-Pact’ | What Brought Them Together? | Details

As per exchange filings, Mukesh Ambani’s Reliance has picked up a 26% stake in Adani Power’s project in MP. The pact has been signed to use the plant’s 500 MW of electricity for captive use. This stake has been bought in the form of stocks with face value of Rs10 at par ( Rs50 crore). This will allow reliance use of 500 MW of generation capacity for captive use, as per the filings of both firms in separate stock exchange filings. But why did Adani and Ambani who have often been portrayed as business rivals shake hands? Watch this video to find out.

 
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