Reliance Infrastructure has inked a Share Purchase Agreement (SPA) with Adani Transmission (ATL) for 100% stake sale of its Western Region System Strengthening Scheme (WRSSS) Transmission Assets. The SPA for Parbati Koldam Transmission Company (PKTCL) shall be executed upon receipt of approval from Power Grid Corporation of India (PGCIL) and other statutory approvals. Under this transaction, ATL will acquire 100% ownership in WRSSS B&C and 74% ownership in PKTCL.
The transactions are subject to applicable regulatory approvals. The deal excludes the expected upside from regulatory proceeds of various appeals of the assets. The entire sale proceeds shall be utilized for debt reduction. SBI Capital Markets is acting as the financial advisors to Reliance Infrastructure for this transaction.
Reliance Infrastructure (RInfra) is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.
| Company Name | CMP |
|---|---|
| NTPC | 399.70 |
| Tata Power | 436.30 |
| Adani Power | 204.40 |
| Power Grid Corp | 321.60 |
| Torrent Power | 1621.75 |
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