SIPL is incorporated in India and registered with the Registrar of Companies, Ahmedabad, Gujarat on 5 July 2021 with an object for carrying out Infrastructure development activities. SIPL holds development rights of land admeasuring 3,000 square meters situated at Bandra Kurla Complex (‘BKC’).
According to the regulatory filing, the company has executed share purchase agreement (SPA) on 17 January 2025. The main purpose of acquisition is to set up 220kv Extra High-Voltage (EHV) substation.
SIPL holds development rights of land admeasuring 3,000 square meters situated at Bandra Kurla Complex (‘BKC’) and AEML is developing 220kv Extra High-Voltage (EHV) substation on said land under the regulatory approvals.
The acquisition cost is an aggregate consideration of Rs 475 crore, determined based on an independent valuation report. The transaction is expected to be completed within fifteen working days from the execution date of the share purchase agreement (SPA).
APPL is an entity under common control. The transaction will be done at arms’ length basis and consideration is determined on basis of Independent Valuation Report.
The official announcement was made on 17 January 2025 after market hours.
Adani Energy Solutions (formerly known as Adani Transmission (ATL)) is the transmission and distribution business arm of the Adani Group, one of India's largest business conglomerates. It is the country's largest private transmission company, holding an operational portfolio of 28 projects and an under-implementation portfolio of nine transmission and nine smart meter projects with a cumulative transmission network of more than 20,509 circuit km (ckm).
The company’s consolidated net profit surged 144.7% to Rs 674.96 crore in Q2 FY25 as against Rs 275.88 crore posted in Q2 FY24. Revenue form operations jumped 68.3% YoY to Rs 6,183.70 crore in Q2 FY25.