Adani to buy transmission asset of KEC International for Rs 2.27 bn

The Bikaner-Sikar transmission line was commissioned in December 2017

Gautam Adani-promoted Adani Transmission will buy out KEC International’s Sikar transmission asset for Rs 2.27 billion; the two companies informed the exchanges separately on Saturday. 

“The company has entered into a share-purchase agreement with KEC International to acquire its entire stake of equity shares representing 99.99 per cent of the total issued, paid-up and subscribed equity share capital and preference shares in its subsidiary KEC Bikaner Sikar Transmission,” Adani Transmission said in a statement.

For Adani Transmission, which claims to be India’s largest