01-01-1970 12:00 AM | Source: Angel Broking Ltd
Adani Green Energy Ltd to acquire SB Energy By Mr. Yash Gupta, Angel Broking Ltd
Below are Quote on Adani Green Energy Ltd to acquire SB Energy by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Adani Green Energy Limited has announced that the company has entered into an agreement with Softbank Group Capital Limited and Bharti Global Limited to acquire 100% shares of SB Energy Holdings Limited for ₹26000 Crores. Share Purchase Agreement with SBGCL to acquire 80% of the issued share capital of SBEHL held by SBGCL and Agreement for sale and purchase with BGL, to acquire balance 20% of the issued share capital of SBEHL held by BGL by this two transaction Adani greens will acquire 100% stake in SB Energy holdings. SB Energy holdings reported the consolidated revenue from operation of ₹1015 crores in FY20-21 by this transaction has been valued at 26 times to sales. SB Energy holdings are in the business of Generation of Electricity using Renewable sources of Energy having a total of 4,954 MW portfolio of renewable energy projects through its wholly owned subsidiaries.
This acquisition is very good for the Adani total greens, it will help the company to achieve its target of 25 GW ahead of the timeline.
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