GMR Energy Limited (GEL), a subsidiary of GMR Infrastructure Limited (GIL), has entered into definitive agreements with Adani Transmission Limited (ATL), wherein GEL has agreed to transfer the interest in its transmission projects – Maru Transmission Services Limited (MTSL) and Aravali Transmission Services Limited (ATSL) – to ATL. Currently, 74 per cent stake in MTSL and 49 per cent stake in ATSL shall be transferred to ATL with an option to acquire the balance stakes in both the projects. The consummation of the transaction is subject to applicable approvals.
The equity consideration ascribed for the transaction involving both the projects is Rs.100 crore. The total value realisable for GEL could be Rs.220 crore, considering this equity consideration and the expected upside of up to Rs.120 crore from regulatory proceeds of various appeals of the assets before the APTEL. Post consummation of the above transaction, the consolidated debt of GMR Group would be reduced. The total debt in the projects as on March 31, 2016 is Rs.324 crore.
FlashNews:
POWERGRID, NEA Ink Cross-Border Transmission Pact to Strengthen India-Nepal Power Ties
Rahul Jain Appointed as Suzlon CFO as RE Major Seeks to Expand Footprint
Gadkari Calls for Accountability and Innovation to Build World-Class Roads
India’s Solar Diplomacy Gains Momentum as Minister Joshi Calls for Equitable Energy Transition at ISA Plenary
Solar for All: President Murmu Urges Inclusive Energy Revolution at ISA Plenary
From Code to Concrete: Why the Smart Infrastructure Boom Needs Bobs to Become Tech Builders
Toll Revenues Surge to ₹491.9 Billion in Jan-Sept 2025, Driven by Higher Traffic and Revised User Fees: ICRA Analytics
IMW 2025: India positions itself as maritime bridge between Indo-Pacific and Global South, says Amit Shah
IMW 2025: Gadkari Calls for Private Innovation in Ship Financing, Launches Maritime Vision Report
IndiGo Reconnects with China, Crosses Long-Haul Milestone with Non-Stop London Service
India to Host Asia-Pacific Aircraft Accident Investigation Meet for the First Time
Nithia Capital Acquires Topworth Urja for ₹3 Billion, Expands Long Steel Portfolio
Delhi Airport Reopens Future-Ready Terminal 2 to Boost Passenger Flow and Airline Efficiency
ICRA Forecasts Steady Power Demand Growth in FY2026 Amid Monsoon Drag and Renewable Surge
IndiGo Retains Dominance in Indian Skies as Four New Airports Join Winter Schedule 2025
Railways Deploys 6,181 Special Trains for Post-Chhath Return; Bihar Stations Reinforced for Festive Rush
NTPC and EIL Partner to Develop Coal-to-SNG Facility for Grid Stability and Clean Energy Transition
NHAI to Display Toll Pass Details at Fee Plazas to Boost Transparency and Ease Travel
TEC Signs MoU with IIT-Hyderabad to Drive Indigenous Telecom Standards
Home » GMR Infrastructure sells stake in transmission projects to Adani Transmission
GMR Infrastructure sells stake in transmission projects to Adani Transmission
Power & New and Renewable Energy
July 1, 2016July 1, 2016


Leave a Reply
You must be logged in to post a comment.