Corporate News 25-Jan-24
Adani Power to divest stake in two subsidiaries to AdaniConnex
Adani Power has entered into a Memorandum of Understanding (MOU) to sell its 100% equity stake in its two wholly owned subsidiaries, i.e. Aviceda Infra Park (AIPL); and Innovant Buildwell (IBPL) to AdaniConnex (ACX). Consequently, AIPL and IBPL will cease to be wholly owned subsidiaries upon completion of the sell, as aforesaid. The sale consideration is Rs 190 crore subject to adjustments on closing date.
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