Adani Power sells its 100 per cent stake in Support Properties stake to AdaniConnex for Rs 15.57 billion

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.