Adani Power bought 100% stake of SPPL’s infra development company, EREPL for ₹609 cr | Rare Techy
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Adani Power on Monday completed the acquisition of 100% equity shares of Support Properties Private Limited (“SPPL”) and Eternus Real Estate Private Limited (“EREPL”) from their respective shareholders.
This acquisition is aggregated to ₹609.4 crore cumulatively.
Earlier this month, the company has entered into an agreement to buy shares and shareholders to sell two companies.
The transaction cost for acquiring Support Properties is at ₹280.10 crore, while for Eternus Real Estate the consideration is ₹329.30 crore.
Support Properties and Eternus Real Estate are included with the object to carry out business in infrastructure activities. The companies are yet to start their operations. It is also located in India.
Support Properties was established on November 2, 2007, while Eternus Real Estate was established on December 24 of the same year.
With the acquisition of the two companies, Adani Power plans to establish infrastructure facilities.
Adani Power shares closed on BSE ₹248.75 each down by 4.98%.
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