Adani Energy forms new wholly owned subsidiary

Adani Energy Solutions Limited (AESL) has incorporated a wholly owned subsidiary named Adani Energy Solutions Step-Sixteen Limited. 

The new entity has an authorised and paid-up share capital of Rs 1 lakh each and is yet to commence operations. It will operate in the electric utilities sector as a transmission service provider, focusing on transmission, distribution, and supply of electricity, as well as related infrastructure services.

AESL has acquired 100 per cent shareholding in the subsidiary through cash consideration, with equity shares purchased at a face value of Rs 10 each. The company is registered with the Registrar of Companies, Gujarat.