Adani Power Limited has completed the acquisition of 100 per cent equities in Support Properties Private Limited (SPPL) and Eternus Real Estate Private Limited (EREPL) for about Rs 6.09 billion.
Earlier in June, 2022, Adani Power had signed share-purchase agreements to acquire 100 per cent equity shares in these companies from their respective shareholders. The cost of acquisitions were Rs 2.80 billion for SPPL and Rs 3.29 billion for EREPL. The consideration for the acquisition was cash. SPPL is yet to commence commercial activities. Its authorised share capital is Rs 740.1 million and paid up share capital is Rs 679.1 million. It is involved in infrastructure development activities. The object of acquisition is to set up infrastructure facilities. EREPL has also not commenced commercial activities. Its authorised share capital is Rs 800.1 million and paid up share capital is Rs 740.1 million.