Kalpataru Power Transmission to sell its stake in Alipurduar Transmission

To Adani Transmission

Kalpataru Power Transmission has entered into definitive agreements with Adani Transmission to sell its stake in Alipurduar Transmission (a wholly owned subsidiary) for a total Enterprise Value (EV) of about Rs. 1286 Crores, subject to certain adjustments on account of assets and liabilities at the time of closing of the transaction. The transaction is also subject to requisite approvals and compliances.

ATL was set up as part of an inter-state transmission system for strengthening and transferring of power from new hydroelectric power projects in Bhutan to India. The project involved design, financing, construction, commissioning, operation and maintenance of 325 kms of 400 KV transmission line. ATL won this project on BOOM basis through a competitive bidding process from REC Transmission Projects Company limited (RECTPCL) for a period of 35 years. ATL is a wholly owned subsidiary of KPTL.

Powered by Capital Market - Live News