Adani Renewable Energytransfers 74 per cent shareholding of MSEL

Adani Renewable Energy Holding Four Limited (AREHFL), a wholly owned subsidiary of Adani Green Energy Limited (AGEL) has transferred 74 per cent stake of Mundra Solar Energy Limited (MSEL).

According to the BSE filing, 7,400 equity have been transferred to Adani Tradecom LLP (ATLLP) at face value of Rs 10 each, aggregating to Rs 74,000. The BSE filing also stated that the deal is done for cash consideration. The transaction has been conducted at arm’s length basis, while the shareholding transfer is based on an independent valuation report. The transfer was concluded on May 21, 2021.