Adani Power Limited has completed the transaction of selling its 100 per cent equity stake in wholly-owned subsidiary, Support Properties Private Limited (SPPL) to AdaniConnex Private Limited (ACX) for an enterprise value of Rs 15.57 billion.
The ACX is a 50:50 joint venture between Adani Enterprises Limited, which is a promoter group company, and EdgeConneX. It is engaged in the business of developing world-class data centres and providing co-location hosting and ancillary services. Notably, SPPL is yet to commence commercial activities.