Adani Energy Incorporates New Unit For Power Transmission Services

Adani Energy Solutions Ltd. has incorporated a wholly-owned subsidiary, Sunrays Infra Space Two Ltd., which will be a transmission service provider.

SISTL was incorporated in Ahmedabad with an authorised and paid-up share capital of Rs 1 lakh each and is yet to commence its business operations, an exchange filing said on Thursday.

The new unit will provide transmission, distribution and supply of power and other related infrastructure services.

Adani Electricity Mumbai Ltd., a unit of the company, has an aggregate principal of $880 million of the $1 billion bond (2030 notes) outstanding as of Dec. 14.

Shares of Adani Energy Solutions closed 4.41% higher at Rs 1,076 apiece after the announcement on Thursday, compared to a 1.34% advance in the benchmark BSE Sensex.

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