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Energy

Adani to sell 25% in Mumbai power distribution unit to Qatar fund

Indian conglomerate to raise about USD 450 from the deal via equity, debt

The Adani Group, backed by Gujarati billionaire Gautam Adani, has sold a 25% stake in its Mumbai electricity distribution unit to Qatar Investment Authority.   © Reuters

MUMBAI (NewsRise) -- Adani Group's power transmission arm sold a 25.1% stake in its Mumbai electricity distribution business to Qatar's wealth fund, as billionaire Gautam Adani's conglomerate shores up investments through foreign partnerships.

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