Adani Power has sold a 100 per cent stake in Support Properties (SPPL) to AdaniConnex (ACX) at an enterprise value of Rs 1,556.5 crore. Earlier in November last year, the company had entered into a memorandum of understanding (MoU) to sell its 100 per cent equity stake in SPPL to AdaniConnex. The ACX is a 50:50 joint venture between Adani Enterprises, which is a promoter group company, and EdgeConneX.
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.
