ADANI Enterprises Ltd. (AEL) is primarily engaged in coal mining and trading, oil and gas exploration, ports and multi-modal logistics, power generation and transmission, gas distribution and edible oil and agro commodities businesses in India and globally.

Further company owns and operates solar power plants with an installed capacity of about 1000MW in various parts of the country through its subsidiaries. Prayatna Developers Private Limited (PDPL) is developing 220 MW of solar power projects which are under various stages of implementation. PDPL is a 100% subsidiary of Adani Enterprises Limited.

Adani Green Energy Limited (AGEL) owns and operates solar and wind power plants through group of its subsidiaries. The company is associates of AEL holding 47.19%.

TRANSACTION

The businesses of development of renewable power projects, generation of renewable power and trading and supply of solar and wind energy equipment’s carries out by AEL, either itself or through its associate or wholly owned subsidiary are together referred to as “Renewable Power Business” of “Renewable Power Undertaking”.

In other words, it includes renewable trading undertaking PDPL (one of the wholly owned subsidiary of AEL), and approximately 47.19% of AEL in AGEL (one of the associate of AEL). AEL also held series of the unsecured compulsory convertible debentures in PDPL. The demerger will be effective from April 1, 2018. The equity share entitlement ratio for transfer of renewable power undertaking to AGEL is 761 equity shares of AGEL for every 1000 equity shares of AEL.

Adani-Renewable-Energy-Demerger-1
Please Note: The demerger‘s final approval is expected in April 2018.

RATIONALE

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