Adani Transmission acquires 49% stake in Alipurduar

Adani Transmission on Friday said it has completed acquisition of 49 per cent stake in Alipurduar Transmission from Kalpataru Power Transmission Ltd (KPTL) for an enterprise value of around Rs 1,300 crore.

"Adani Transmission Ltd (ATL) has acquired 49 per cent stake in Alipurduar Transmission Ltd from KPTL with agreement to acquire balance 51 per cent after obtaining requisite regulatory and other approvals and in a manner consistent with Transmission Service Agreement," a company statement said.

According to the statement, the share acquisition is pursuant to definitive agreements signed in July 2020.

The acquisition is in sync with ATL's strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities.

With this acquisition, the cumulative network of ATL will reach more than 15,400 ckt kms (circuit kilometre), out of which more than 12,200 ckt kms (including this asset) is operational and more than 3,200 ckt kms is under various stages of execution.

ATL has acquired 49 pe cent stake, with agreement to acquire 51 per cent too, in Alipurduar Transmission Ltd pursuant to definitive agreements signed in July 2020.

Alipurduar Transmission operates transmission lines aggregating to around 650 ckt kms in West Bengal and Bihar·

Alipurduar Transmission project was awarded through competitive bidding process on a build, own, operate, maintain basis.

Element 1 of the project consisting of the transmission line from Alipurduar to Siliguri was commissioned on 20 January, 2020, and Element 2 consisting of the transmission line from Kishanganj to Darbhanga was commissioned on March 6, 2019.

ATL is the transmission and distribution business arm of the Adani Group, one of India's largest business conglomerates.