Adani Transmission Limited (ATL) has signed definitive agreements with Essel Infraprojects Ltd (EIL) for the acquisition of Warora-Kurnool Transmission Limited (WKTL). As per the settlement, WKTL will develop, function and keep transmission traces aggregating 1,750 ckt km, Adani Transmission mentioned in a regulatory submitting to the inventory exchanges. The buy 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 by way of natural and inorganic alternatives. The lender’s consent and different obligatory regulatory approvals will likely 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 numerous levels of execution.
Anil Sardana, Managing Director and CEO, Adani Transmission mentioned, “The acquisition of WKTL will bolster ATL’s pan-India presence, consolidating further its position as the largest private sector transmission company 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.
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