Adani Power Limited announced today the incorporation of a new wholly owned subsidiary, Adani Power Middle East Ltd, in Abu Dhabi. The subsidiary, with an authorized capital of 27,000 shares at $1 each, is set up as an investment holding company focused on power, infrastructure, and related fields.
The shares of Adani Power Limited were trading at ₹667.55 up by ₹6.15 or 0.93% on the BSE today at 10:15 am
The new entity is a 100% subsidiary of Adani Power Limited, with an initial subscription of $27,000. The company stated that the incorporation does not fall under related party transactions and requires no governmental or regulatory approvals.
The newly formed subsidiary has yet to commence business operations, and no historical turnover data is available. This move signals Adani Power’s intent to expand its presence in the Middle East region.