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Adani Transmission Ltd.

BSE: 539254 Sector: Infrastructure
NSE: ADANITRANS ISIN Code: INE931S01010
BSE 00:00 | 15 Oct 160.15 4.25
(2.73%)
OPEN

156.00

HIGH

161.00

LOW

154.05

NSE 00:00 | 15 Oct 161.10 4.80
(3.07%)
OPEN

161.00

HIGH

164.00

LOW

153.00

OPEN 156.00
PREVIOUS CLOSE 155.90
VOLUME 10084
52-Week high 252.00
52-Week low 115.00
P/E 5338.33
Mkt Cap.(Rs cr) 17,613
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 156.00
CLOSE 155.90
VOLUME 10084
52-Week high 252.00
52-Week low 115.00
P/E 5338.33
Mkt Cap.(Rs cr) 17,613
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Adani Transmission Ltd. (ADANITRANS) - Company History

Adani Transmission Limited (ATL) headquartered at Ahmedabad in Gujarat India is one of the largest private sector power transmission companies in India with a presence across the western and northern regions of India. Adani Transmission Limited (ATL) was incorporated on 9 December 2013 to carry on the business of establishing commissioning setting up operating and maintaining electric power transmission systems. The company received certificate for commencement of business on 17 December 2013. The High Court of Gujarat vide its order dated 7 May 2015 sanctioned the Composite Scheme of Arrangement between Adani Enterprises Limited (AEL) Adani Ports and Special Economic Zone Limited (APSEZ) Adani Power Limited (APL) Adani Transmission Limited (ATL) and Adani Mining Private Limited (AMPL) and their respective shareholders and creditors. The Scheme with effect from 1 April 2015 inter alia provided for Demerger of the Transmission Undertaking of AEL comprising the undertaking businesses activities operations assets (moveable and immoveable) and liabilities pertaining to the Mundra-Zerda transmission line and the investment of AEL in ATL into ATL.Upon the Scheme coming into effect and in consideration of the transfer and vesting of the Transmission Undertaking of AEL into ATL in terms of the Scheme the equity shareholders of AEL whose names appeared in the Register of Members of AEL as on the Record Date i.e. 4 June 2015 were allotted shares of ATL in the ratio of 1 (one) equity share of ATL for every 1 (one) equity share held in AEL. The equity shares of ATL so issued pursuant to the Scheme were listed and admitted for trading on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) with effect from 31 July 2015.On 25 November 2015 Adani Transmission announced that the company has acquired 3 (three) Wholly Owned Subsidiaries of PFC Consulting Limited (a Wholly Owned Subsidiary of Power Finance Corporation Limited) viz. Chhattisgarh-WR Transmission Limited for System Strengthening for IPPs in Chhattisgarh and other Generation Projects in Western Region Sipat Transmission Limited for Additional System Strengthening for Sipat STPS and Raipur-Rajnandgaon-Warora Transmission Limited Additional System Strengthening Scheme for Chhattisgarh IPPs (Part-B). The company has acquired these three companies from PFC Consulting Limited (PFCCL) pursuant to competitive bidding process carried out by PFCCL. With these new acquisitions and upon completion of these projects ATL's transmission network will increase from 5051 Ckt Km to 6435 Ckt Km.On 8 July 2016 Adani Transmission announced that it has acquired 100% equity share capital of an SPV company North Karanpura Transco Limited (NKTL) a wholly owned subsidiary of REC Transmission Projects Company Limited (RECTPCL) pursuant to competitive bidding process carried out by RECTPCL. NKTL was incorporated in November 2015 by RECTPCL to establish transmission system for immediate evacuation for North Karanpura generation project of NTPC along with creation of 400/220KV sub-station at Dhanbad Jharkhand on BOOM basis.On 26 July 2016 Adani Transmission announced that it has signed a Purchase Agreement with Credit Suisse AG Singapore branch for its Indian rupee denominated Masala bond of Rs 500 crore with coupon of 9.1%.On 5 October 2016 Adani Transmission announced the signing of Binding Term Sheet with Reliance Infrastructure Ltd. (R-Infra) to acquire inter-state operational transmission assets viz. 100% stake of Western Region Strengthening System Scheme B (WRSSS B) - around 2089 ckt kms 100% stake of Western Region Strengthening System Scheme C (WRSSS C) - around 974 ckt kms and 74% shares of R-Infra in Parbati Koldam Transmission Company Limited (PKTCL). PKTCL is a joint venture between R-Infra and Power Grid Corporation of India Limited (PGCIL). R-Infra holds 74% equity stake and PGCIL holds 26% equity stake in the company - around 458 ckt kms. On 7 December 2016 Adani Transmission announced that it has executed Share Purchase Agreement (SPA) with R-Infra for acquisition of R-Infra's WRSSS transmission assets of approximately 3100 ckt kms.On 7 October 2016 Adani Transmission Ltd (ATL) announced the acquisition of 74% shares of Maru Transmission Service Company Limited (MTSCL) and 49% shares of Aravali Transmission Service Company Limited (ATSCL). While payment has been made for 100% stake in both the companies the remaining stake in both the companies will be transferred to ATL in a manner consistent with the Transmission Service Agreement. This acquisition is in sync with ATL's strategy to enhance the value for its stakeholders through organic as well as inorganic growth. Earlier on 1 July 2016 Adani Transmission announced that it has signed definitive agreement with GMR Energy Ltd. to acquire 74% Equity Shares of Maru Transmission Service Company Limited (MTSCL) with an option to acquire 100% in a manner consistent with Transmission Service Agreement and applicable consents. On the same it also announced signing definitive agreement with GMR Energy Ltd. to acquire 49% Equity Shares of Aravali Transmission Service Company Limited (ATSCL) with an option to acquire 100% in a manner consistent with Transmission Service Agreement and applicable consents. MTSCL operates 400 KV S/C Bikaner-Deedwana transmission line and 2X315 MVA 400/220 KV grid sub-station at Deedwana and other associated works in Rajasthan. ATSCL operates 400 KV S/C Hinduan-Alwar transmission line and 2X315 MVA 400/220 KV grid sub-station at Alwar and other associated works in Rajasthan. On 3 April 2017 Adani Transmission Ltd (ATL) announced that it has received the 3 LOIs from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) to construct own operate and maintain three transmission projects in the state of Rajasthan. The projects namely Hadoti Transmission Company Limited (PPP-8) Barmer Transmission Company Limited (PPP 9) and Thar Transmission Company Limited (PPP-10) collectively have approximately 350 Ckt kms of lines and 16 substations with transformation capacity of approx. 600 MVA at voltage level of 132/220 KV. These assets were awarded through a Tariff Based Competitive Bidding Process. With these Projects ATL will strengthen its existing significant presence in Rajasthan with 2 operational transmission projects (i.e. Aravali & Maru transmission company Ltd) and Suratgarh Bikaner project which is under construction.On 5 August 2017 Adani Transmission Ltd (ATL) announced that the company has acquired 100% equity share capital of two SPV companies namely Barmer Power Transmission Service Limited (BPTSL) and Thar Power Transmission Service Limited (TPTSL) from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) on 4 August 2017 pursuant to competitive bidding process carried out by RVPN. These two SPV companies were incorporated in June 2016 by RVPN for development of 132 KV grid sub-stations along with associated transmission lines and associated schemes/works on PPP mode.On 14 August 2017 Adani Transmission Ltd (ATL) announced that it has acquired 100% equity share capital of SPV company namely Hadoti Power Transmission Service Limited (HPTSL) from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) on 11 August 2017 pursuant to competitive bidding process carried out by RVPN. HPTSL was incorporated in May 2016 by RVPN for development of 220 KV and 132 KV grid sub-stations along with associated transmission lines and associated schemes/works on PPP mode.On 1 November 2017 Adani Transmission Ltd (ATL) announced that it has completed the acquisition of 100% stake of Western Region Transmission Maharashtra (WRTM) project and Western Region Transmission Gujarat (WRTG) project having operational transmission lines aggregating 3063 ckt kms with deal valued at about Rs 1000 crore. With these acquisitions ATL attains a new milestone of 8500 ckt kms of transmission lines in operation. On 21 December 2017 Adani Transmission (ATL) announced that it has signed a binding Share Purchase Agreement (SPA) to acquire the Mumbai Generation Transmission and Distribution (GTD) business from Reliance Infrastructure. Adani Transmission has valued the business at a total consideration of Rs 12101 crore. In addition the Regulatory Assets approved to the extent of Rs 1150 crore for the period 1 April 2018 to 31 March 2019 will be to the account of the Seller. The GTD business caters to about 3 million customers making it the country's largest private sector integrated power utility entailing about 1892 MW of power distribution along with generation facilities (500 MW thermal coal based) and over 540 ckt kms of transmission network. The proposed transaction will mark ATL's foray into distribution space and also strengthen Adani Transmission's footprint in the power transmission sector. With this acquisition apart from largest distribution network the cumulative transmission network of ATL will reach around 12000 ckt kms out of which approximate 9540 ckt kms are under operation (including about 1000 ckt kms under process of acquisition) and approximate 2350 ckt kms under various stages of construction. The transformation capacity of ATL will increase to 19200 MVA from 36 substations (Including 8 EHV Substations under acquisition) spread across the country.On 15 March 2018 Adani Transmission (ATL) announced that it has acquired 100% equity share capital of Fatehgarh-Bhadla Transmission Limited (FBTL) from PFC Consulting Limited (PFCCL) on 14 March 2018 pursuant to tariff based competitive bidding process carried out by PFCCL. FBTL was incorporated in December 2016 by PFCCL to establish transmission system for Ultra Mega Solar Park in Fatehgarh District Jaisalmer Rajasthan