Adani Transmission Ltd (ATL) has acquired 49% stake in Alipurduar Transmission Ltd. from Kalpataru Power Transmission Ltd. (KPTL) with an agreement to acquire the balance 51% after obtaining requisite regulatory and other approvals and in a manner consistent with transmission service agreement. The share acquisition is as per definitive agreements signed in July.
This acquisition is at an enterprise valuation of ₹1,300 crore.
With this acquisition, the cumulative network of ATL will reach more than 15,400 ckt km, out of which more than 12,200 ckt km (including this asset) is operational and more than 3,200 ckt km is under various stages of execution, the company said.
Alipurduar Transmission Ltd. operates transmission lines aggregating to about 650 ckt kms in West Bengal and Bihar.
