Adani Enterprises on Tuesday said it has acquired Adani Infrastructure Pvt Ltd (AIPL), which is yet to commence business operations.
AIPL with an authorised and paid up capital of Rs5 lakh is a subsidiary of Adani Properties Pvt Ltd for development of infrastructure, a promoter group company. “The company has acquired 100% equity share capital of AIPL…The transaction is done at arm’s length basis…equity shares are acquired at a face value of Rs10 each,” the company said in a BSE filing.
A total of 50,000 shares were acquired, it said. AIPL was incorporated at Ahmedabad in Gujarat on 5 November 2015. Shares of Adani Enterprises closed at Rs103.65 apiece on the BSE, up 0.39% from the previous close.
Source: Mint