Adani Power Board approves demerger of transmission business

NEW DELHI: Adani Power's board approved the demerger of its transmission lines business and has appointed Vinod Bhandawat as Chief Financial Officer of the generation company.

"Board of Directors of Adani Power in a meeting, on December 28, approved the demerger of the transmission line business of the Company to its wholly owned subsidiary company (WOS)," the company said in a regulatory filing to the stock exchanges.

This demerger is subject to requisite approvals, the company added.

Adani Power also announced the appointment of Vinod Bhandawat as Chief Financial Officer of the company.

Shares of Adani Power were trading at Rs 39.40 apiece, down 0.25 per cent on the BSE.