Adani Energy Solutions Limited — Important, 17-01-2025: Agreements

Adani Electricity Mumbai Limited (AEML), a subsidiary of Adani Energy Solutions Ltd, has executed a Share Purchase Agreement to acquire 100% equity shares of Superheights Infraspace Private Limited (SIPL). This acquisition, involving a cash consideration of Rs. 475 Crore based on an independent valuation, aims to establish a 220kv Extra High-Voltage (EHV) substation on 3,000 square meters of land at Bandra Kurla Complex. The acquisition is expected to be completed within 15 working days and is classified as a related party transaction, as Adani Properties Private Limited, involved in the deal, is under common control. SIPL, incorporated in July 2021, has shown no turnover in its brief operational history, indicating it may be an entity primarily set for infrastructure development. This strategic move positions AEML to enhance its infrastructure capabilities, suggesting a positive outlook for future growth in energy distribution.