Adani Power Limited (APL) has acquired a 100% stake in Anuppur Thermal Energy (MP) Private Limited (ATEMPL) by purchasing 47,50,000 equity shares from Adani Infra (India) Limited (AIIL). The acquisition, which was completed at a price of Rs. 24.9 per share, is aimed at enhancing APL’s capacity in infrastructure development.
Details of the Acquisition
- ATEMPL Overview: Incorporated in May 2007, ATEMPL is set to focus on infrastructure development and capacity augmentation for Adani Power. As of now, the company has not commenced commercial operations.
- Financials of ATEMPL:
- Authorized Share Capital: Rs. 85 crore, comprising 8.5 crore equity shares of Rs. 10 each.
- Paid-Up Share Capital: Rs. 84.75 crore, consisting of 8.475 crore equity shares of Rs. 10 each.
- Nature of Transaction: The acquisition is a related-party transaction as both APL and AIIL belong to the Adani Group. However, the purchase was conducted at arm’s length, based on a valuation report by an independent registered valuer under the Companies Act 2013.
- Consideration: The consideration for the acquisition was cash-based. The cost of acquiring the remaining 5.60% stake in ATEMPL was Rs. 24.9 per share.
Purpose and Future Outlook
The acquisition is intended to facilitate APL’s growth in infrastructure facilities. By becoming a wholly-owned subsidiary of Adani Power, ATEMPL is expected to play a strategic role in expanding the company’s capabilities in the infrastructure and energy sectors.
This move aligns with Adani Power’s goal of enhancing its infrastructure assets and operational capacity, although ATEMPL is yet to begin its commercial activities.
