Essar Transco News Today

India Business News: Adani Energy Solutions and Adani Enterprises, part of India's top conglomerates, plan to raise funds worth Rs 12,500 crore. Tata Steel also aims to ra

Adani Energy Solutions (AESL), part of Indian conglomerate the Adani Group, has announced its intention to raise Rs125bn ($1.50bn).

Shares of Adani Energy Solutions settled at Rs 1105.90 on Friday, rising 0.60 per cent, with the total market capitalization of the company around Rs 1.25 lakh crore.

The funds will be used to finance its expansion plans

The acquisition was undertaken by a wholly owned subsidiary, Adani Transmission Step Two Ltd (ATSTL).

Adani Energy Solutions Ltd (AESL) has acquired 100 per cent stake in Essar Transco Limited for an Enterprise Value of INR 1,900 crore after obtaining necessary clearances. This share acquisition follows agreements signed in June 2022.

The share acquisition is pursuant to definitive agreements signed in June 2022, a company statement said.

Adani Energy Solutions Limited (AESL) through its wholly owned subsidiary Adani Transmission Step-Two Limited (ATSTL) acquired a 100% stake in Essar Transco Adani Energy Solutions Ltd (AESL), one of the largest private transmission and distribution company in South Asia with a growing smart metering portfolio, has acquired 100% stake in Essar Transco Limited after obtaining...

The project operates under the CERC regulated return framework and was commissioned on September 22, 2018.

Adani Transmission Step Two Ltd (ATSTL), a wholly owned subsidiary, made the acquisition. Post completion, Essar Transco has become a wholly owned subsidiary of ATSTL and the step-down wholly owned subsidiary Adani Energy.