Adani Energy Solutions Ltd. has incorporated a wholly-owned subsidiary, Arasan Infra Two Ltd., which will be a transmission service provider.
AITL was incorporated in Ahmedabad with an authorised and paid-up share capital of Rs 1 lakh each and is yet to commence its business operations, an exchange filing said on Wednesday.
The new unit will provide transmission, distribution and supply of power and other related infrastructure services.
Last week, the company incorporated another transmission service provider, Sunrays Infra Space Two Ltd.
Shares of Adani Energy Solutions closed 7.13% lower at Rs 999 apiece after the announcement on Thursday, compared to a 1.30% decline in the benchmark BSE Sensex.
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