Adani Transmission Ltd (ATL), India's largest private sector power transmission company, has acquired 49% stake in Alipurduar Transmission Limited from Kalpataru Power Transmission Ltd. (KPTL) with agreement to acquire balance 51% after obtaining requisite regulatory and other approvals and in a manner consistent with Transmission Service Agreement. The share acquisition is pursuant to definitive agreements signed in July 2020.
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 more than 15,400 ckt kms, out of which more than 12,200 ckt kms (including this asset) is operational and more than 3,200 ckt kms is under various stages of execution.
Alipurduar Transmission Ltd. operates transmission lines aggregating to around 650 ckt kms in West Bengal and Bihar. The project was awarded through competitive bidding process on a build, own, operate, maintain basis. Element 1 of the project consisting of the transmission line from Alipurduar to Siliguri was commissioned on 20 Jan 2020 and Element 2 of the project consisting of the transmission line from Kishanganj to Darbhanga was commissioned on 6 Mar 2019.
Shares of Adani Transmission Ltd was last trading in BSE at Rs.364.6 as compared to the previous close of Rs. 367.35. The total number of shares traded during the day was 28324 in over 1260 trades.
The stock hit an intraday high of Rs. 373 and intraday low of 357.75. The net turnover during the day was Rs. 10294153.