Acquisitions18 Jan 2025, 12:03 am
Adani Electricity Mumbai Limited Acquires Superheights Infraspace Private Limited for Rs. 475 Crore
AI Summary
Adani Electricity Mumbai Limited (AEML), a material subsidiary of Adani Energy Solutions Ltd, has agreed to acquire 100% Equity Shares of Superheights Infraspace Private Limited (SIPL) from Adani Properties Private Limited (APPL). The acquisition, valued at Rs. 475 Crore, is based on an Independent Valuation Report. SIPL holds development rights of a 3,000 square meter land at Bandra Kurla Complex (BKC) for the development of a 220kv Extra High-Voltage (EHV) substation. The transaction is expected to be completed within fifteen working days from the execution date of the Share Purchase Agreement (SPA).
Key Highlights
- Adani Electricity Mumbai Limited to acquire 100% Equity Shares of Superheights Infraspace Private Limited
- Transaction valued at Rs. 475 Crore based on Independent Valuation Report
- SIPL holds development rights for a 3,000 square meter land at Bandra Kurla Complex for a 220kv Extra High-Voltage substation
- Transaction to be completed within fifteen working days from the execution date of the SPA
- Adani Properties Private Limited is the selling entity