Adani Group companies form new subsidiaries

Adani Green Energy Limited has incorporated two step-down subsidiaries, the company said on Thursday.

Adani Saur Urja (KA) Limited, a wholly-owned subsidiary, has established Adani Renewable Energy Fifty One Limited, and Adani Renewable Energy Holding Nine Limited, another wholly-owned subsidiary, has formed Adani Renewable Energy Fifty Five Limited.

These new subsidiaries will undertake the generation of power using renewable sources, specifically wind and solar energy. Currently, the companies are in the initial stages and are yet to begin operations.


The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sell, and supply power or electrical energy using renewable sources.

Adani Green Energy's scrip ended at Rs 1509.40, up 5.77% on the BSE. Benchmark Sensex ended 1.34% higher.

Separately, Adani Energy Solutions said the company has incorporated a wholly-owned subsidiary Sunrays Infra Space Two Ltd.

The authorized and paid-up share capital of the new subsidiary is Rs 1 lakh and is incorporated for transmission, distribution, and supply of power and other infrastructure services.

The equity shares are acquired at a face value of Rs 10 each for cash consideration with 100% shareholding. The company is yet to begin operations.

Adani Energy Solutions' scrip ended at Rs 1.74.85, up 4.29% on the BSE.