Adani Green Energy Ltd. has incorporated five new subsidiaries through its wholly owned arm, Adani Renewable Energy Holding Four Ltd.
The five subsidiaries—Adani Renewable Energy Thirty Five Ltd., Adani Renewable Energy Thirty Seven Ltd., Adani Renewable Energy Forty One Ltd., Adani Renewable Energy Forty Two Ltd., and Adani Renewable Energy Forty Three Ltd.—have an authorised capital of Rs 1 lakh and paid-up capital of Rs 1 lakh each, the company said in an exchange filing.
Adani Green has made a cash consideration of Rs 5 lakh for the incorporation and will have 100% shareholding in the new subsidiaries.
New subsidiaries, the filing said, are yet to commence their business operations.
The main objective of the new subsidiaries is to “generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy”, it said.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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