Adani Transmission Gains After Signing Agreement With Essel Infraprojects To Acquire Warora-Kurnool Transmission Limited

Share price of Adani Transmission Limited gained more than three per cent on Tuesday, March 30, after it signed a definitive agreement with Essel Infraprojects Limited for the acquisition of Warora-Kurnool Transmission Limited for an enterprise value of Rs 3,370 crore. On Tuesday, Adani Transmission opened on the BSE at Rs 898, touching an intra day high of Rs 924.40 and an intra day low of Rs 880.85, in the trading session so far. On the NSE, it opened at Rs 896. (Also Read: Adani Transmission To Buy Warora-Kurnool Transmission )

According to the regulatory filing by the firm to the stock exchanges, the total network of the Adani Transmission Limited will reach around ~17,200 ckt km with the acquisition of the Warora-Kurnool Transmission Limited.

Adani Transmission Limited is the country’s largest private sector power transmission and retail distribution firm. Shares of Adani Transmission were last trading 1.69 per cent higher at Rs 885.35 on the NSE.

According to the agreement, the Warora-Kurnool Transmission Limited will operate, develop, and maintain the transmission lines aggregating to ~1,750 ckt km. Along with this, the agreement also states that the 765 kV inter-state transmission lines link Warora to Warangal as well as Chilakaluripeta to Kurnool through Hyderabad, with a new 765/400 kV sub-station at Warangal, will also be built and operated.

The regulatory filing stated that the project was awarded through a competitive bidding process on a build, own, operate, maintain basis, having a concession life of 35 years.