Adani Transmission acquires two SPV companies
DSIJ Intelligence / 07 Aug 2017
Adani Transmission has acquired 100% equity capital of two SPV companies, namely, Barmer Power Transmission Service and Thar Power Transmission from Rajasthan Rajya Vidyut Prasaran Nigam on Friday.
Adani Transmission has acquired 100% equity capital of two SPV companies, namely, Barmer Power Transmission Service and Thar Power Transmission from Rajasthan Rajya Vidyut Prasaran Nigam on Friday.
The said SPV companies were incorporated in June 2016 by Rajya Vidyut Prasaran Nigam for the development of 132 KV grid sub-stations along with associated transmission lines on a PPP basis. The company has acquired it from RVPN pursuant to a competitive bidding process carried out by Rajya Vidyut Prasaran Nigam.
Equity shares were acquired at a face value of Rs 10 per share and the total number of equity shares stands at 50,000. The share price of Adani Transmission closed at Rs 123.85 with reduction of 0.36% on Friday.