Adani Transmission changes name to Adani Energy Solutions Ltd.

28 Jul 2023 , 10:41 AM

The power transmission and distribution division of the Adani Group, formerly known as Adani Transmission Limited, has changed its name to Adani Energy Solutions Limited.

The biggest private transmission company in the nation is ATL.

‘This is to inform that the company’s name has been changed from ‘Adani Transmission Limited’ to ‘Adani Energy Solutions Limited’ with effect from July 27, 2023, in accordance with the even-dated ‘Certificate of Incorporation pursuant to the change of name’ received from the Registrar of Companies,’ Adani Transmission stated in a regulatory filing.

Anil Sardana, the managing director of Adani Transmission, stated in the company’s annual report for FY22-23 that the company’s entry into the power distribution space following the acquisition of Reliance Infrastructure Limited’s power distribution business, subsequent expansion, and the application of a parallel license (second) in Maharashtra and Uttar Pradesh, and the proposed likelihood of various initiatives expected to lead to the renaming of the company were the reasons for the change.

‘The renaming comes at the right time as India is passing through an unprecedented optimism, marked by upsides coming out of a range of government reforms, pandemic resilience, global broad basing of supply chains giving rise to the China +1 phenomenon, increased consumer aspirations, and the sustained Indian economic growth,’ Sardana had stated.

On Thursday, Adani Transmission’s stock price finished at Rs 805.30, down 1.12%. The benchmark Sensex finished down 0.66%.

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