Adani Transmission share price hits 52-week high on acquisition of Warora-Kurnool Transmission
Warora-Kurnool Transmission will develop, operate, and maintain transmission lines aggregating to around 1,750 ckt km.
March 30, 2021 / 09:47 AM IST
Adani Transmission share price touched a 52-week high of Rs 924.40, rising 6 percent in the early trade on March 30 after the company signed definitive agreements with Essel Infraprojects for the acquisition of Warora-Kurnool Transmission (WKTL).
As per the agreement, WKTL will develop, operate, and maintain transmission lines aggregating to around 1,750 ckt km, the company said in the release.
The new lines will link 765 kV inter-state transmission lines, which connects Warora to Warangal and Chilakaluripeta to Kurnool via Hyderabad, with a new 765/400 kV sub-station at Warangal, which shall be built & operated as a part of the agreement.
The acquisition is expected to be completed in one month, subject to all necessary regulatory approvals and other consents.
The acquisition is done at an enterprise valuation of WKTL at Rs 3,370 crore.
At 0931 hours, Adani Transmission was quoting at Rs 899.30, up Rs 30.30, or 3.49 percent, on the BSE