Adani Green Energy no longer a subsidiary of Adani Enterprises

NEW DELHI: Adani Enterprises today said Adani Green Energy Ltd is no longer its subsidiary as its stake has been diluted below 50 per cent in the arm.

"...pursuant to the allotment of further equity shares by Adani Green Energy Ltd (AGEL), the company's stake in AGEL has been diluted below 50 per cent.

"Consequently, AGEL ceased to be a subsidiary of the company from June 6, 2017," Adani Enterprises Ltd said in a statement.