Adani Power has executed a Share Purchase Agreement (SPA) to sell its entire stake in its wholly-owned subsidiary, Chandenvalle Infra Park (CIPL), to AdaniConnex (ACPL). Post completion of the transaction, CIPL shall cease to be a subsidiary of the company. The transaction is valued at Rs 535.69 crore, subject to adjustments on closing date in terms of SPA.
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.
