Adani Energy Solutions rises on acquiring 100% equity shares of Mahan Transmission
Adani Energy Solutions is currently trading at Rs. 878.45, up by 4.60 points or 0.53% from its previous closing of Rs. 873.85 on the BSE.
The scrip opened at Rs. 873.80 and has touched a high and low of Rs. 894.50 and Rs. 863.60 respectively. So far 331827 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1347.90 on 01-Aug-2024 and a 52 week low of Rs. 588.25 on 27-Nov-2024.
Last one week high and low of the scrip stood at Rs. 894.50 and Rs. 795.20 respectively. The current market cap of the company is Rs. 106553.77 crore.
The promoters holding in the company stood at 69.94%, while Institutions and Non-Institutions held 23.18% and 6.88% respectively.
Adani Energy Solutions has executed Share Purchase Agreement (SPA) with REC Power Development and Consultancy (RECPDCL) for acquiring 100% Equity Shares of Mahan Transmission (MTL).
This acquisition is proposed to further company’s strategy for enhancing value for its shareholders through organic as well as inorganic opportunities. MTL will evacuate 1,230 MW of power from Adani Power’s upcoming 1,600 MW expansion units at Mahan in Singrauli district and feed into the state grid.
Adani Energy Solutions (formerly known as Adani Transmission) is the transmission business arm of the Adani Group, one of India’s largest business conglomerates.
