Adani Group has merged its two subsidiary units with Adani New Industries Limited (ANIL), a firm manufacturing green hydrogen and wind turbines. The group's flagship company Adani Enterprises Limited has informed the stock market about this merger. “Adani Infrastructure Private Limited and Mundra Solar Technology Limited have been merged with our wholly-owned subsidiary Adani New Industries Limited,” Adani Enterprises said in a filing to the stock exchanges.
Adani Infrastructure and Developers works as a real estate company
The merged entities are Adani Infrastructure Private Limited and Mundra Solar Technology Limited Subsidiary. Adani Infrastructure and Developers operates as a real estate company. The company provides engineering, technology and commercial, project management services along with construction and development of thermal and solar power projects. On the other hand, Mundra Solar Technology is involved in the business of generation, collection and distribution of electricity.
Adani New Industries Limited is a subsidiary company of Adani Enterprises.
Adani New Industries Limited (ANIL), a subsidiary of Adani Enterprises, runs low carbon emission projects. It works in the manufacturing of green hydrogen projects, wind turbines and solar module batteries. French energy giant Total Energies holds 25 percent stake in ANIL while Adani Enterprises holds the remaining 75 percent.
Adani Green Energy shares fell on Tuesday
Let us tell you that on Tuesday there was a decline in the shares of Adani Green Energy Limited. Shares of the company closed at Rs 1884.30, down 0.99 per cent (18.80 per cent) on BSE. Adani Green Energy shares are currently trading below their 52 week high. The 52 week high of the company's shares is Rs 2,173.65.
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