Adani Power Sells Entire Stake in Subsidiary CIPL for ₹535.69 Cr

Adani Power Limited has signed a Share Purchase Agreement (SPA) to sell its entire stake in its wholly-owned subsidiary, Chandenvalle Infra Park Limited (CIPL), to AdaniConneX Private Limited (ACPL). The transaction, valued at ₹535.69 crore, subject to closing adjustments, will result in CIPL ceasing to be a subsidiary of Adani Power. CIPL, which has not yet commenced commercial activities, holds significant land parcels and approvals in Telangana. ACPL is a joint venture between Adani Enterprises Limited and EdgeConneX. The transaction is considered a related party transaction conducted on an arm's length basis.