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.
Adani Transmission will raise about $450 million from Qatar Investment Authority via an equity investment in Adani Electricity Mumbai and subordinated debt, the Indian company said in a statement on Wednesday.
