Adani Transmission Ltd (ATL) has announced the incorporation of a new subsidiary.
In a stock exchange communication, ATL said it has incorporated a new wholly-owned subsidiary called “Adani Transmission Step Five Ltd”. (ATSFL)
The new company ATSFL was incorporated on January 11, 2023 and will be engaged in the power transmission business, ATL said.
To the knowledge of T&D India, ATL, in the recent past has incorporated at least two such subsidiaries “Adani Transmission Step One Ltd” and “Adani Transmission Step Two Ltd”.
While no official information about these subsidiaries is available, it strongly appears that such subsidiaries will be acquisition vehicles for transmission projects.
For instance, in September 2022, Adani Transmission Step Two Ltd, in turn, incorporated a wholly-owned subsidiary “Adani Transmission Mahan Ltd” for the proposed acquisition of the 400kV Mahan-Sipat transmission line owned by Essar Power.
Also read: Adani Transmission Incorporates Subsidiary For Smart Metering Business
It may be recalled that in early June 2022, Essar Power Ltd announced that it entered into a definitive agreement with Adani Transmission Ltd (ATL) to sell the 400kV Mahan-Sipat power transmission line for Rs.1,913 crore.
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