Gautam Adani's Rs 105000 crore company's shares jump over 8% after it acquires...

India's second-richest businessman, Gautam Adani, has acquired yet another company. His Adani Energy Solutions has announced the acquisition of a project special purpose vehicle Mahan Transmission, which will evacuate 1,230 MW power from Adani Power's upcoming 1,600 MW expansion units at Mahan in Singrauli district in Madhya Pradesh. "The company has on 26th March, 2025 executed share purchase agreement with REC Power Development and Consultancy Ltd for acquiring 100 per cent equity shares of Mahan Transmission Ltd (MTL)," a regulatory filing said.

Equity shares are being acquired at a face value of Rs 10 each for a cash consideration. It also stated that the acquisition is completed and the total authorised and paid-up share capital of the MTL is Rs 5 lakh, the filing stated. The MTL is incorporated in India and was registered with the Registrar of Companies, New Delhi, on November 20, 2024.

This acquisition is proposed to further AESL's strategy for enhancing value for its shareholders through organic as well as inorganic opportunities. The MTL will evacuate 1,230 MW of power from Adani Power's upcoming 1,600 MW expansion units at Mahan in the Singrauli district and feed it into the state grid. Presently, the market cap of Adani Energy is Rs 1.05 lakh crore, as of March 27. The share price of the company closed at Rs 870 on Thursday.

(With inputs from PTI)

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