Adani Energy Solutions Ltd

Meeting Details

• Dates/venue: 7–8 Sep 2026, London.
• Meeting type: 1-on-1 and group; physical.
• Event: Adani Annual Conference 2026.
• Date: 9 Sep 2026, Abu Dhabi.

Participants

• Company Secretary.

Purpose

• Purpose: Investor/analyst interaction.

Additional Notes

• Presentation material will be available on the company website.

Rating action and instruments

• Rating agency: India Ratings and Research Private Limited.
• Long-Term Issuer Rating affirmed at IND AA+/Stable.
• Non-convertible debentures ₹14,000 million; reduced from ₹15,000 million; rating IND AA+/Stable.
• Commercial paper up to ₹10,000 million; rating IND A1+.
• Bank loan facilities ₹61,500 million; reduced from ₹64,000 million; rating IND AA+/Stable.
• Bank loan facilities ₹50,000 million; rating INR AA+/Stable; assigned.

Meeting Details

• Date and time: August 21, 2026, 10:00 AM local time.
• Type/Mode: In-person group meeting with analysts and investors.
• Event: Site visit to Mumbai HVDC.

Target and transaction overview

• Target: Vizag Power Transmission Limited, Indian electric utilities transmission service provider.
• Acquisition: 100% equity via cash; SPA executed on 14 August 2026.
• Share price: equity shares acquired at Rs 10 face value.
• Ownership: 100% stake acquired.
• Size: Authorized Rs 5 Lakh; Paid-Up Rs 5 Lakh; turnover not disclosed.
• Industry: Electric Utilities (Transmission).
• Rationale: enables integration and power supply for Vizag Green Hydrogen/Ammonia projects (~4,500 MW).
• Regulatory: Not Applicable.
• Timeline: Completion completed.
• Consideration: cash; price Rs 10 per share.
• Related party: not a related party.
• Background: VPTL incorporated in India on 16 Feb 2026; turnover not applicable.

Meeting Details

• Emkay Confluence 2026: one-on-one and group meetings, Mumbai (physical); Wednesday, August 12, 2026.
• Motilal Oswal 22nd Annual Global Investor Conference: one-on-one and group meetings, Mumbai (physical); August 17-18, 2026.

Participants

• Company management participants expected; specific roles not disclosed.

Purpose

• Investor and analyst interaction.

Additional Notes

• Presentations for the meetings available on the company website.

QIP details

• Security type: Equity shares of ₹10 face value offered under QIP.
• Allocation of 2,16,71,826 equity shares.
• Issue price: ₹1,615 per share, including ₹1,605 premium.
• Discount to floor price: 4.90% (₹83.15) to ₹1,698.15 floor.
• Closing date: Issue closure on 30 July 2026.
• Approval: QIP Committee approved closure, allocation, and placement document; file with BSE/NSE.
• Eligibility: Shares allotted to eligible QIBs.
• Placement document dated July 30, 2026 approved.
• Filing: Placement document to be filed with BSE/NSE.

Meeting Details

• Date: Monday, August 03, 2026.
• Type and mode: group, physical.
• Event/organiser: Sell Side Analyst Meeting.
• Purpose: interaction with investors/analysts.
• Key company participants: not specified.

Earnings call highlights

• AESL has transitioned to a full-scale energy solutions platform with four business verticals.
• Q1 FY27 capex reported at about INR 3,500 crore.
• Smart meter installations reach 13.4 million; order book at 24.6 million meters.
• IntelliSmart acquisition pending regulatory approvals (CCI); expands meter portfolio to about 47 million.
• Energy Solutions capacity: around 5,000 MW supply-side and 350 MW of C&I customers.
• Long-term take-or-pay contracts underpin sourcing; storage capacity available at 3,500 MWh.
• Energy Solutions EBIT about INR 590 crore; ~INR 570 crore from long-term PPA segment.
• Volume: ~3,325 million units in energy solutions; ~9,800 MU in services.
• HVDC pipeline: KPS-1 and Bhadla-Fatehpur; commissioning targeted FY29; annual capex opportunities INR 20-25k crore.

QIP terms and approvals

• Opening of the QIP approved for July 27, 2026.
• Floor price fixed at ₹1,698.15 per Equity Share.
• Discount on floor price allowed up to 5%.
• BRLMs appointed: SBI Capital Markets, ICICI Securities, IIFL Capital Services, Jefferies India Private Limited.
• Preliminary placement document dated July 27, 2026 and application form approved.
• Relevant Date for the Issue: July 27, 2026.
• Issue price to be determined in consultation with BRLMs.
• QIP Committee meeting time: 5:25 PM to 5:40 PM.
• Equity shares not registered under U.S. Securities Act; no public offering in the U.S.
• Board approval on July 1, 2026; special resolution on July 25, 2026.