Adani Transmission to Seek Shareholder Approval for Transactions Worth Rs 10,600 Cr

Adani Transmission said on Tuesday that it would seek shareholder approval for proposed related party transactions worth up to Rs 10,600 crore in 2022-23.

Three resolutions for the purposes of transactions with related parties during the 2022-23 financial year are on the agenda in accordance with the notice of the company’s Combined General Meeting scheduled for July 27.

One of these transactions listed will be with Adani Enterprises Ltd (AEL) for the purchase of electricity, coal, the provision of services, the receipt of services and other transactions for business purposes from or to AEL from worth up to Rs 2,500 crore in 2022-23.

Another such transaction will be with Adani Infra (India) Limited (AIIL) the redemption of the perpetual unsecured equity instrument as well as the distribution on the perpetual unsecured equity instrument; provide/accept financial assistance in the form of revolving interest-bearing business-to-business deposits/loans, in single or multiple tranches up to a value of 5,200 crores in 2022-2023.

There will be another transaction with Adani Properties Private Limited (APPL) providing/taking financial assistance in the form of revolving interest-bearing intercompany deposits/loans, in one or more tranches worth Rs 2,900 crore in 2022-23 .

(PTI)


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