Qatar Investment Authority has agreed to buy a 25.1 per cent stake in Adani Electricity Mumbai Ltd – the firm that distributes power to three million consumers in Mumbai – for Rs 3,200 crore.
Adani Electricity Mumbai Ltd is a part of Adani Transmission Ltd, while Qatar Investment Authority (QIA) is the sovereign wealth fund of the Qatar.
“Adani Transmission Limited (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 per cent stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML.
“The total QIA investment in AEML will be approximately Rs 3,200 crore,” a company statement said.
