Anil Ambani had to sell the Reliance Energy. Adani Group has bought Reliance Energy's Mumbai business for Rs 18,800 crore. Reliance Energy, which is under Reliance Infrastructure, is active in the electricity generation, transmission and distribution sector. Along with the acquisition, Adani Transmission will now see its functioning. Adani has made this purchase agreement under the cash deal.

Reliance Energy has about 3 million subscribers in Mumbai, which will be billed in the name of Adani in the coming days. In recent times, it is being said to be the largest acquisition in the power sector.

According to the Times of India report, Reliance Infra and Adani Transmission signed the SPA (share purchase agreement) on Thursday. After getting statutory clearance, it will be formalized. Reliance Energy sees power supply in East and West Mumbai. With the purchase agreement, all the consumers will now be in Adani Transmission.

Anil Jalan, Chief Executive Officer of Reliance Infra, has confirmed this. They said that after repaying a loan of Rs 15,000 crore, Rs three thousand crore would be left. He told that Reliance Infra will now be able to focus on construction, infrastructure projects and defense sector.

Anil Jalan said that it would be easier to raise funds from the market due to non-debt. According to him, Reliance Infra has a project worth Rs. 10,000 crores. It is known that this company is India's second largest construction company.

With the purchase of Reliance Energy, Adani Group will now be able to retain its foot in the distribution area after Electricity Generation-Transmission. The company issued a statement saying, "There is a plan to provide electricity round-the-clock in India, in which power distribution is the next Sunrise sector."

In the future, the area with possibilities is called Sunrise Sector. Reliance Infra will get Rs 13,251 crore directly from the sale of Reliance Energy's Mumbai business. With this, the transfer of ownership of the company will fetch another Rs. 550 crores.

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