Adani Transmission (ATL) has entered into a period of exclusivity with Reliance Infrastructure (RInfra) until January 15, 2018 in relation to discussions for the proposed acquisition of the integrated business of generation, transmission and distribution of power for Mumbai City from RInfra.

The proposed Transaction is subject to confirmatory diligence, definitive documentation, and customary approvals. Accordingly, there can be no certainty that a transaction will result. The proposed Transaction would further strengthen ATL's footprint in power transmission sector while marking its maiden foray into the power distribution sector.

Shares of the company gained Rs 17.55, or 9.99%, to trade at Rs 193.25. The total volume of shares traded was 461,158 at the BSE (12.16 p.m., Tuesday).