Adani Transmission completes 49 per cent stake acquisition in Alipurduar from KPTL

Adani Transmission has completed acquisition of 49 per cent stake in Alipurduar Transmission Limited from Kalpataru Power Transmission Limited (KPTL) for an enterprise value of around Rs 13 billion.

The share acquisition is pursuant to definitive agreements signed in July 2020. Alipurduar Transmission operates transmission lines aggregating to around 650 ckt kms in West Bengal and Bihar. The project was awarded through competitive bidding process on a build, own, operate, maintain basis. The acquisition is in sync with Adani Transmission’s strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities. The balance 51 per cent stake will be acquired after obtaining requisite regulatory and other approvals consistent with transmission service agreement.