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Adani Energy Arm To Acquire Superheights Infraspace For $55 Mln

Superheights holds development rights of a 3,000-square meter land at Bandra Kurla Complex and Adani Electricity will set up a substation on the land

Staff Reporter | 17 January 2025 | 07:43 PM

(The Corner Office Journal) -- Adani Energy Solutions Ltd. said its unit agreed to acquire a 100% stake in Superheights Infraspace Private Ltd. for 475 crore rupees ($55 million) in cash.


Adani Electricity Mumbai Ltd. (AEML), a key subsidiary of the company, signed a share purchase agreement with Adani Properties Private Ltd. for the acquisition of Superheights Infraspace today (17 January), Adani Energy said in a stock exchange announcement.


The company said Superheights Infraspace holds development rights of a 3,000-square meter land at Bandra Kurla Complex (BKC). AEML is developing 220 kilovolts extra high-voltage substation on the BKC land under the regulatory approvals, it added.


Adani Energy said the acquisition is likely to be completed within 15 working days.


The deal will be done at arms’ length basis as Adani Properties is an entity under common control, according to the statement.


Note: $1 = 86.5539 Indian rupees


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