Adani Transmission gets nod for Rs 38.50 billioninvestment by Abu-Dhabi firm

Adani Transmission Limitedhas received shareholders’ approval for issuance of 15.6 million shares worth around Rs 38.50 billion on a preferential basis to Green Transmission Investment Holding RSC Limited.

At present, IHC Capital Holding LLC is the principal shareholder of Green Transmission Investment Holding RSC Limited. As per company’s statement, it has executed a share subscription agreement with Green Transmission Investment Holding RSC for the issuance and allotment of 15,682,600 equity shares of face value of Rs 10 each to the investor on preferential basis.These equity shares will be issued at a price of Rs 2,454.95 per equity share.The deal is part of the 7.3 billion dirham (USD 2 billion) investment to be made by UAE’s International Holding Company (IHC) in three Adani Group firms. IHC will invest Rs 38.50 billion in Adani Green Energy Limited, Rs 38.50 billion in Adani Transmission Limited and Rs 77 billion in Adani Enterprises Limited.

 

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