Adani Green Energy Ltd.'s unit, Adani Renewable Energy Holding Nine Ltd., incorporated four wholly-owned subsidiaries on Monday.
The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sell and supply any kind of power or electrical energy using wind energy, solar energy, or other renewable sources of energy, the company said in its exchange filing.
The four step-down subsidiaries are Adani Renewable Energy Sixty Ltd., Adani Renewable Energy Sixty Two Ltd., Adani Renewable Energy Sixty Three Ltd., and Adani Renewable Energy Sixty Four Ltd.
The entities have an authorised and paid share capital of Rs 1 lakh each.
The new subsidiaries are registered with the Registrar of Companies, Gujarat, in Ahmedabad, and are yet to commence their business operations.
Shares of Adani Green Energy closed 0.15% higher at Rs 1,524.65 apiece on the NSE, as compared with a 0.18% decline in the benchmark Nifty 50.
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