Adani Transmission sells 25.10 per cent stake in AEML to QIA

PTI New Delhi | Updated on February 11, 2020

QIA’s investment in AEML is approximately ₹3,220 crore

Adani Transmission on Tuesday said it has sold 25.1 per cent stake in its arm Adani Electricity Mumbai Ltd (AEML) to Qatar Investment Authority (QIA) for approximately ₹3,220 crore.

“Qatar Investment Authority (QIA) has completed acquisition of 25.10 per cent stake in Adani Electricity Mumbai Ltd (AEML) from ATL (Adani Transmission Ltd) along with an investment in shareholder subordinated debt in AEML on 10 February, 2020,” the transmission and distribution business arm of the Adani Group said in a filing to BSE.

The total QIA investment in AEML is approximately ₹3,220 crore, which includes equity consideration of approximately ₹1,210 crore and shareholder subordinated debt of approximately ₹2,010 crore, the filing said. The definitive agreements for the transaction were signed on December 11, 2019, and all the requisite approvals were received subsequently.

AEML has recently completed an investment grade, USD 1 billion bond issuance, the first by a private integrated utility from India. The issue generated significant interest from international investors.

The shares of Adani Transmission were trading at ₹333.95 apiece on BSE, up 0.6 per cent from previous close.

Published on February 11, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like