Adani Power has inked a pact to sell 100% stake in Support Properties (SPPL) to AdaniConnex (ACX) at an enterprise value of Rs 1,556.5 crore. The enterprise valuation is Rs 1,556.5 crore subject to adjustments on closing date. ACX is a 50:50 joint venture between Adani Enterprises, which is a promoter group company, and EdgeConneX. The expected timeline for completion of sale/disposal is end of January, 2023.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
