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  Business   Companies  05 Aug 2017  Adani Transmission acquires 2 SPVs from Rajasthan transco

Adani Transmission acquires 2 SPVs from Rajasthan transco

PTI
Published : Aug 5, 2017, 7:14 pm IST
Updated : Aug 5, 2017, 7:14 pm IST

The company had 'acquired 100 per cent equity share capital of two SPV companies on August 4.

Adani Transmission on Friday said it has acquired two special purpose entities from Rajasthan Rajya Vidyut Prasaran Nigam.
 Adani Transmission on Friday said it has acquired two special purpose entities from Rajasthan Rajya Vidyut Prasaran Nigam.

New Delhi: Adani Transmission on Friday said it has acquired two special purpose entities from Rajasthan Rajya Vidyut Prasaran Nigam through competitive bidding route.

Rajya Vidyut Prasaran Nigam (RVPN) had formed the two special purpose vehicles (SPVs) -- Barmer Power Transmission Service Ltd (BPTSL) and Thar Power Transmission Service Ltd -- in June last year to set up 132 kv grid sub stations along with associated transmission lines.

 

Following the acquisition, the two SPVs have become wholly-owned subsidiaries of Adani Transmission, according to a regulatory filing by the Adani group firm.

The company had "acquired 100 per cent equity share capital of two SPV companies" on August 4, the filing said.

The company acquired the SPVs "from RVPNL (Rajya Vidyut Prasaran Nigam Ltd) pursuant to competitive bidding process carried out by RVPN", the filing said.

Tags: adani
Location: India, Maharashtra, Mumbai (Bombay)