Adani Energy Solutions has completed the acquisition of South Kalamb Power Transmission Limited (SKPTL) through a Share Purchase Agreement executed on March 30, 2026. The company acquired 100% equity shares of SKPTL from PFC Consulting Limited at face value of Rs. 10 per share, as disclosed under Regulation 30 of SEBI listing regulations.

Transaction Details

The acquisition was completed through a cash transaction, with Adani Energy Solutions acquiring the entire shareholding of South Kalamb Power Transmission Limited. The target company has an authorized and paid-up share capital of Rs. 1 lakh each.

Company Profile and Strategic Rationale

South Kalamb Power Transmission Limited operates in the electric utilities sector as a transmission service provider. The company was incorporated on September 30, 2025, and is registered with the Registrar of Companies, New Delhi.

Strategic Impact

The acquisition aligns with Adani Energy Solutions' strategy for enhancing shareholder value through organic and inorganic growth opportunities. SKPTL strengthens South Kalamb's evacuation capability by upgrading the 765/400 kV transformation and downstream network, ensuring reliable high-capacity power supply to Mumbai and readiness for the upcoming 6 GW ±800 kV HVDC renewable injection.

This transaction represents a non-related party acquisition, with no promoter or group company interest in the target entity. The deal required no governmental or regulatory approvals and has been completed as disclosed to the stock exchanges.

Three entities within the Adani group ecosystem have collectively acquired 3,47,60,400 equity shares representing 2.89% of Adani Energy Solutions Limited through strategic market purchases spanning nearly two years. The substantial acquisition has been disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Acquisition Details by Entity

The share purchases were executed by three distinct entities across different timeframes, demonstrating a coordinated approach to increasing group holdings.

Impact on Shareholding Structure

The acquisitions have significantly strengthened the promoter group's control over Adani Energy Solutions. The consolidated holding of promoters and persons acting in concert has increased from 69.28% to 72.17%.

Transaction Structure and Compliance

All acquisitions were conducted through open market purchases on the Bombay Stock Exchange and National Stock Exchange of India. The transactions comply with SEBI regulations, with proper disclosures filed by the acquiring entities. Gelt Bery Trade and Investment Ltd is incorporated in Mauritius, while Emerging Market Investment DMCC operates from Dubai, UAE. Adani Infra (India) Limited is the domestic entity among the three acquirers.

Share Capital Context

The acquisitions occurred against the backdrop of Adani Energy Solutions' expanded share capital following a Qualified Institutional Placement (QIP). The company's equity share capital stands at Rs. 1,201,28,26,420, consisting of 1,20,12,82,642 equity shares of Rs. 10 face value each. The percentage calculations for the acquisitions have been computed based on the post-QIP share capital structure.

Regulatory Framework

The disclosure fulfills requirements under Regulation 29(2) of SEBI Takeover Regulations, which mandates reporting of substantial acquisitions by promoter group entities. The filing includes detailed breakdowns of shareholding patterns before and after the acquisitions, ensuring transparency for market participants and regulatory authorities.