Global rating agency Standard and Poor's (S&P) has placed Adani Transmission Ltd's (ATL) environmental, social, and governance (ESG) evaluation under review. This follows recent allegations of significant governance lapses at the Adani group of companies. As per S&P, We will closely monitor developments, including any investigations by the Indian regulators and any additional disclosures by the Adani group. 

The rating agency said allegations related to group governance and disclosures may affect the appetite of fund providers and business partners to support ATL's growth. This may raise financial and operational risks for the company. Our current assessment of ATL's governance factors in some controlling shareholder's weight in decision-making, including on related-party transactions. ATL is the largest private power transmission and distribution company in India. The Adani family controls the company with a reported 75 per cent stake, with the balance in free float. ATL operated 18,795 circuit kilometres of electric transmission lines in FY23. The company had a total transformation capacity of 40,001 megavolt amperes. It owns a 500-megawatt coal-fired power plant.

Click the icon for more details