Adani Energy Solutions Ltd Announces Completion of Acquisition of Essar Transco Limited

Adani Energy Solutions Ltd (AESL) has completed the acquisition of 100% Equity Shares of Essar Transco Limited (ETL). The acquisition was announced on June 3, 2022, when the original Share Purchase Agreement (SPA) was executed. After regulatory approvals, the companies proposed to amend and restate the SPA. The acquisition was concluded on May 15, 2024, with ETL becoming a wholly owned subsidiary of Adani Transmission Step Two Limited (ATSTL) and in turn, a step-down subsidiary of AESL. Essar Transco Limited has an authorized share capital of Rs. 1000.05 Crore and a paid-up share capital of Rs. 447.82 Crore, with no turnover as of March 31, 2024. The acqusition will enhance AESL's network to 21,182 ckt kms, with 18,109 ckt kms operational and 3,073 ckt kms under execution. The acquisition is in line with AESL's growth strategy and will lead to operational synergies.