Adani Transmission has sold 25.1% stake in its arm Adani Electricity Mumbai (AEML) to Qatar Investment Authority (QIA) for approximately Rs 3,220 crore. The total QIA investment in AEML is approximately Rs 3,220 crore, which includes equity consideration of approximately Rs 1,210 crore and shareholder subordinated debt of approximately Rs 2,010 crore. The definitive agreements for the transaction were signed on December 11, 2019.
AEML has recently completed an investment grade, $1 billion bond issuance, the first by a private integrated utility from India. The issue generated significant interest from international investors.
Adani Transmission is a holding company. The company operates as a power transmission company. It is engaged in transmission of electric energy and trading of castor oil.
