Adani Transmission Ltd to acquire Karur Transmission Ltd

Adani Transmission Ltd has signed Share Purchase Agreement with PFC Consulting Limited on 18th January, 2022 for acquisition of its entire stake in Karur Transmission Ltd.

The project comprises of establishing 2x500 MVA, 400/230 kV Karur Pooling Station at Tamil Nadu and Loop In Loop Out (LILO) of Pugalur - Pugalur (HVDC) line. The Company's execution of the project will help evacuate renewable energy from the Karur-Tiruppur region and the estimated capex will be more than Rs. 200 Crore.

With this acquisition, ATL will exceed 18,500 ckt km of transmission lines and 38,600 MVA transformation capacity. ATL also operates a distribution business serving about 3 million customers in Mumbai.

Shares of Adani Transmission Limited was last trading in BSE at Rs. 2022.75 as compared to the previous close of Rs. 1997.05. The total number of shares traded during the day was 2821 in over 359 trades.

The stock hit an intraday high of Rs. 2043.00 and intraday low of 1970.00. The net turnover during the day was Rs. 5665944.00.

Source : Equity Bulls

Keywords

AdaniTransmission INE931S01010 SPA PFCConsulting KarurTransmission