Adani Enterprise "unlocks' value

Adani Enterprise hit a new high today at Rs.803.90. At that level profit booking came in and the sock is now 1% up at Rs.794 levels.

The market is thrilled after the company announced record date of 4^th June, for the purpose of scheme of arrangement and demerger.

As per the scheme, the ports business of Adani Enterprises will be merged into Adani Ports while the power assets will become a part of Adani Power. There is another company, Adani Mining, which will be merged into Adani Enterprise.

Adani Transmission will operate the power transmission business; it has over 5,000 circuit kilometres of power lines in western, northern and central India. To unlock value, this new company is to be listed on the bourses.

So as on 4^th June, shareholders of Adani Enterprises will get :

• 14,123 shares of Adani Ports for every 10,000 held in Adani Enterprise.
• Adani Power will issue new equity in the ratio of 18,596 shares for every 10,000 held in Adani Enterprises.
• Adani Transmission will issue shares in the ratio of 1:1 to Adani Enterprises shareholders.
• The shares held by Adani Enterprises in these three companies will be cancelled.