Adani Transmission surges on signing definitive agreements with Essel Infraprojects
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Adani Transmission is currently trading at Rs. 889.20, up by 20.20 points or 2.32% from its previous closing of Rs. 869.00 on the BSE.
The scrip opened at Rs. 898.00 and has touched a high and low of Rs. 924.40 and Rs. 885.30 respectively. So far 18931 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 924.40 on 30-Mar-2021 and a 52 week low of Rs. 167.20 on 01-Jun-2020.
Last one week high and low of the scrip stood at Rs. 924.40 and Rs. 755.00 respectively. The current market cap of the company is Rs. 95573.50 crore.
The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 22.47% and 2.61% respectively.
Adani Transmission (ATL), India’s largest private sector power transmission and retail distribution company, has signed definitive agreements with Essel Infraprojects (EIL) for the acquisition of Warora-Kurnool Transmission (WKTL). ATL’s acquisition values the Enterprise Valuation of the target at Rs 3370 crore. The regulatory approval for substitution of original awardee in the contract by ATL has already been received from Central Electricity Regulatory Commission. The lenders consent and other necessary regulatory approvals shall be obtained before closure of transaction.
The acquisition is in sync with ATL's strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities. With this acquisition, the cumulative network of ATL will reach 17,200 ckt km, out of which 12,350 ckt km is already operational and 4,850 ckt km (including this asset) is in various stages of execution. With this enhanced scale of operations, ATL will enjoy substantial benefits in terms of cost optimisation and shared resources and will also fortify its position of being the largest private sector transmission company in the country.
Adani Transmission is a holding company. The company operates as a power transmission company. It is engaged in transmission of electric energy and trading of castor oil.
