Adani Transmission arm sells 25.1% stake to QIA

New Delhi: Adani Transmission on Tuesday said it has sold 25.1 per cent stake in its arm Adani Electricity Mumbai Ltd (AEML) to Qatar Investment Authority (QIA) for approximately Rs 3,220 crore.

"Qatar Investment Authority (QIA) has completed acquisition of 25.10 per cent stake in Adani Electricity Mumbai Ltd (AEML) from ATL (Adani Transmission Ltd) along with an investment in shareholder subordinated debt in AEML on 10 February, 2020," the transmission and distribution business arm of the Adani Group said in a filing to BSE.

The total QIA investment in AEML is approximately Rs 3,220 crore, which includes equity consideration of approximately Rs 1,210 crore and shareholder subordinated debt of approximately Rs 2,010 crore.