Adani's company will be sold by january, a deal worth ₹ 1556 crore, and shares fall
Shares of adani Power have jumped up to 11% in the last five trading days. The stock of adani Power has given a multi-bagger return of 263.38% YTD this year.
Adani Power Limited (APL) on Thursday, november 10 said that the company is selling its entire stake in its wholly owned subsidiary, Support Properties Private Limited (SPPL) to Adaniconex Private Limited (ACX) for Rs 1,556.5 crore. Shares of adani Power fell up 1% to Rs 368.
The company said in an exchange filing that adani Power Ltd will sell its 100% equity stake in its wholly owned subsidiary Support Properties Pvt Ltd to Adaniconex Pvt Ltd. The deal is to be completed by the end of january 2023.
Shares of adani Power have jumped up to 11% in the last five trading days. The stock of adani Power has given a multi-bagger return of 263.38% YTD this year. During this, the stock rose from Rs 101 to Rs 368. This share of adani Group has gained 240.52% in the last year. The deal is to be completed by the end of january 2023.
