Adani Power on Monday completed the acquisition of 100% equities in SPPL and EREPL for about ₹609 crore. On June 7, 2022, Adani Power had signed a share-purchase agreements to acquire 100% equity shares of two companies, viz. Support Properties Private Ltd (SPPL) and Eternus Real Estate Private Ltd (EREPL) from their respective shareholders.
“All the related steps/activities for acquisition of 100% equity shares of SPPL and EREPL have now been completed,” a BSE filing stated.
Earlier this month, the company had stated in a filing that the cost of acquisitions were ₹280.10 crore for SPPL and ₹329.30 crore for EREPL. The consideration for the acquisition was cash.
SPPL is yet to commence commercial activities. Its authorised share capital is ₹74,01,00,000 and paid up share capital is ₹67,91,00,000. It is involved in infrastructure development activities. The object of acquisition is to set up infrastructure facilities.
EREPL has also not commenced commercial activities. Its authorised share capital is ₹80,01,00,000 and paid up share capital is ₹74,01,00,000. The consideration for the acquisition was cash.
