Adani Enterprise floats subsidiary company to store foodgrains at Dahod

AHMEDABAD | MUMBAI | RAJKOT – Adani Enterprise Ltd informed the Exchanges in India on Friday night of having incorporated a wholly owned subsidiary for storage of food grain at Dahod district of Gujarat state.

Company has incorporated a wholly owned subsidiary namely, “Adani Agri Logistics (Dahod) Limited” (“AALDL”) on 2nd August, 2018 with Authorized & Paid Up Share capital of 500,000 (~5 lakh) rupees only.

Turnover of the company is pr3esently Nil as the subsidiary company is yet to commence business operations.

AALDL is incorporated to develop, operate and maintain Silos for Storage of food grains at Dahod on DBFOO (design, build, finance, own and operate) basis under PPP (public-private-partnership) mode.

AALDL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 2nd August, 2018 and is yet commence its business operations.


Announcement from the company had hit the Indian Bourses, after the week-long trading session had ended on Friday.

It will be interesting to see, how investors & traders react to this development, while Stock Exchanges in India open for business again on Monday morning.

Meanwhile, Adani Enterprise share ended on negative counters in RED Zone on Friday.

 


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