M&A

M&A

Adani Transmission to acquire MPSEZ Utilities from Adani Ports for Rs.116-Cr

BSE Release   BSE Release  

Publicly listed Adani Transmission Ltd has signed a pact with fellow Ahmedabad-based Adani Ports and Special Economic Zone Ltd (APSEZ), also a listed entity, to acquire a 100% stake in MPSEZ Utilities Ltd (MUL) for INR 116.27 crore. MUL was incorporated to provide facilities for distribution of electricity, effluent & sewage treatment in the Mundra SEZ area in Kutch, Gujarat, spread across 8,481 hectares as a distribution licensee. MUL reported revenues of INR 203.31 crore for FY21. It handles a distribution network of around 100 km, comprising 75 km underground and 25 km overhead network.