The Adani Green Energy division said on Wednesday that it would pay Essel Infraprojects 15 crore to buy 50% of the equity in Essel Saurya Urja Company of Rajasthan Ltd.
According to a regulatory filing by Adani Green Energy, its renewable division Adani Renewable Energy Holding Two Ltd. and Essel Infraprojects Ltd. signed into a legally binding term sheet on January 17, 2023.
The acquisition cost is Rs. 15 crore in cash. The Rajasthan government would continue to hold the remaining 50% of the equity shares.
This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.
ALL INDIA LEGAL FORUM 