Adani Transmission Limited to acquire MPSEZ Utilities Ltd

Adani Transmission Limited (ATL) has signed Share Purchase Agreement with Adani Ports and Special Economic Zone Limited (APSEZ) on 15th December, 2021 for acquisition of MPSEZ Utilities Limited ("MUL").

MUL was incorporated primarily to provide facility of distribution of electricity, effluent & sewage treatment in Mundra SEZ area, Kutch, Gujarat spread across 8,481 hectares as a distribution licensee.

With this acquisition, ATL will be able to leverage its Technical Competency and Customer Management to optimize the cost and improve the efficiency.

The consideration to be paid is Rs.116.27 Crores based on independent valuers' report.

Presently, total distribution network of MUL is around 100 Kms comprising of 75 Kms underground and ~25 Kms overhead network. MUL distributes about 300 MUs, with distribution losses of ~ 3.46% and has a mediumterm power purchase arrangement. The load at it's distribution area is expected to grow, as more industrial & commercial activities get added in MUL's geography of operations.

Shares of Adani Ports and Special Economic Zone Limited was last trading in BSE at Rs. 745.45 as compared to the previous close of Rs. 764.25. The total number of shares traded during the day was 182043 in over 5493 trades.

The stock hit an intraday high of Rs. 765.80 and intraday low of 742.65. The net turnover during the day was Rs. 136974887.00.

Shares of Adani Transmission Limited was last trading in BSE at Rs. 1875.85 as compared to the previous close of Rs. 1869.85. The total number of shares traded during the day was 1218 in over 180 trades.

The stock hit an intraday high of Rs. 1898.95 and intraday low of 1852.00. The net turnover during the day was Rs. 2290642.00.

Source : Equity Bulls

Keywords

AdaniPortsandSpecialEconomicZone INE742F01042 AdaniTransmission INE931S01010 Acquisition MPSEZUtilities