Adani Transmission Restricted (ATL) has signed definitive agreements with Essel Infraprojects Ltd (EIL) for the acquisition of Warora-Kurnool Transmission Restricted (WKTL). As per the settlement, WKTL will develop, function and preserve transmission strains aggregating 1,750 ckt km, Adani Transmission stated in a regulatory submitting to the inventory exchanges. The acquisition has taken place at an enterprise valuation of Rs 3,370 crore.
The acquisition is in sync with ATL’s technique to boost worth for its stakeholders via natural and inorganic alternatives. The lender’s consent and different vital regulatory approvals will probably be obtained previous to closure of the transaction.
With this acquisition, ATL’s cumulative community will attain 17,200 circuit km, of which 12,350 ckt km is operational and 4,850 ckt km (together with this asset) is in varied phases of execution.
Anil Sardana, Managing Director and CEO, Adani Transmission stated, “The acquisition of WKTL will bolster ATL’s pan-India presence, consolidating additional its place as the most important personal sector transmission firm in India.”
On Friday, the shares of Adani Transmission had ended greater by 4.2 per cent as in opposition to the 1.1 rise in benchmark indices.