Adani Enterprises to demerge renewable energy business

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Adani EnterprisesBSE -3.77 % today announced plans to demerge its renewable energy business into associate company Adani Green Energy Ltd as part of simplifying overall business structure.

Post demerger scheme, which has been approved by the boards of the two companies, Adani Green Energy Ltd (AGEL) would be listed on the exchanges.

Adani Enterprises Ltd (AEL) has a renewable energy portfolio of 2,148 MW in India.

Announcing the scheme of arrangement for demerger of the renewable power undertaking into AGEL, Adani Enterprises said it would “simplify the business structure”.

The scheme would provide the shareholders of AEL direct shareholding in AGEL, “listing of the largest renewable Power Independent Power Producer (IPP) having a total portfolio of 2,148 MW in India, according to a statement.

he scheme would provide the shareholders of AEL direct shareholding in AGEL, “listing of the largest renewable Power Independent Power Producer (IPP) having a total portfolio of 2,148 MW in India, according to a statement.

The renewable power undertaking includes businesses of development of renewable power projects, generation of renewable power and trading and supply of solar and wind energy equipment.

Under the proposed scheme, AGEL would issue 761 new equity shares for eve ..

 

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