Adani Power has entered into a Memorandum of Understanding (MoU) to sell its 100% equity stake in its two wholly owned subsidiaries, i.e. Aviceda Infra Park (AIPL) and Innovant Buildwell (IBPL) to AdaniConnex (ACX). Consequently, AIPL and IBPL will cease to be wholly owned subsidiaries upon completion of the sell, as aforesaid. The transactions are expected to complete by March 31, 2024
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.
