Mumbai: Adani Transmission Ltd on Wednesday said it will sell 25.1% stake in its arm Adani Electricity Mumbai Ltd (AEML) to Qatar Investment Authority for around ₹3,200 crore.
“Adani Transmission Ltd (ATL), Adani Electricity Mumbai Ltd (AEML) and a subsidiary of Qatar Investment Authority (“QIA”) have signed definitive agreements for the sale of a 25.1% stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML”, the company said in a exchange filling.
AEML is the licensee for an integrated power distribution, transmission and generation business that currently serves more than 3 million consumers across a license area of approximately 400 square kilometers in the city of Mumbai. AEML’s market share of Mumbai is approximately 67% by consumers served and 55% by electricity supplied, the statement said.
