Adani Enterprises to divest its holding in MEGPTCL

Adani Enterprises has received an approval to divest its holding of 70.75 crore Equity shares in Maharashtra Eastern Grid Power Transmission Company (MEGPTCL) to Adani Transmission, a wholly owned subsidiary (WOS) of the Company at a price to be determined on the basis of independent valuation report and deemed appropriate in the best interest of the Company subject to requisite approvals, if any. The board at its meeting held on November 12, 2014 has approved the same. Adani Enterprises, the flagship company of the Adani Group, is the country’s largest coal importer-turned-domestic private mine developer-cum-operator (MDO). The company is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.