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Adani Power to sell Support Properties to group's data center JV firm for Rs.1,556-Cr

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Adani Power Ltd (APL) is selling its entire 100% equity stake in Support Properties Private Ltd (SPPL) to group firm AdaniConnex Private Ltd (ACX) at an enterprise value of INR 1,556.5 crore. ACX is a 50:50 joint venture between Adani Enterprises Ltd (which is a promoter group company of Adani Power) and US-based EdgeConneX, which is engaged in the business of developing data centres. Adani Power had acquired 100% equity shares of Support Properties Pvt Ltd (SPPL) for an equity value of INR 280.10 crore in June 2022.