Adani Renewable Energy Holding Two Ltd to acquire 50% in ESUCRL

Adani Renewable Energy Holding Two Limited, a Wholly-owned Subsidiary of Adani Green Energy Limited has entered into a binding term sheet on January 17, 2023 for acquisition of 50% equity interest in Essel Saurya Urja Company of Rajasthan Limited ("ESUCRL") from Seller.

ESUCRL owns and operates a solar park with a capacity of 750 MW in the state of Rajasthan. The acquisition will expand AGEL's footprint in the state of Rajasthan, where the AGEL already owns and operates solar park in a joint venture Company with Government of Rajasthan i.e. Adani Renewable Energy Park Rajasthan Limited. The acquisition is expected to be value accretive to the shareholders.

Shares of Adani Green Energy Limited was last trading in BSE at Rs. 2166.50 as compared to the previous close of Rs. 2093.30. The total number of shares traded during the day was 303356 in over 23448 trades.

The stock hit an intraday high of Rs. 2185.00 and intraday low of 2099.00. The net turnover during the day was Rs. 656750575.00.

Source : Equity Bulls

Keywords

AdaniGreenEnergy INE364U01010 AdaniRenewableEnergyHoldingTwo Acquisition SolarPark Rajasthan