Adani Group-owned ACC Ltd. has incorporated two wholly owned subsidiary companies: ACC Concrete South Ltd. and ACC Concrete West Ltd.
The subsidiaries have been incorporated "to carry on the business of manufacturing and dealing in cement, RMC, and allied products and by-products," the company said in an exchange filing on Wednesday.
ACC has an initial subscription of 10,000 equity shares of Rs 10 each, aggregating to Rs 1 lakh in each of the units.
Last month, ACC commenced commercial production of clinker at its new cement plant in Ametha, located in the Katni district of Madhya Pradesh.
The facility has a clinker capacity of 3.3 million tonnes per year and a cement capacity of 1 MTPA.
Shares of ACC closed 1.36% lower at Rs 2,006.70 apiece ahead of the announcement on Wednesday, compared with 0.44% decline in the benchmark S&P BSE Sensex.
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