Adani’s Enterprises’ metallic move, incorporates Copper Company

AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the Exchanges in India, Ahmedabad headquartered and Gautam Adani led Adani Enterprise Ltd said of having incorporated wholly owned subsidiary Mundra Copper Ltd, business entity owned by Adani Group aimed at developing, operating and maintaining of Copper Smelter Plant.

Adani Enterprises Limited (AEL), has incorporated a Wholly Owned Subsidiary (WOS) namely, “MUNDRA COPPER LIMITED” (MCL) on 22nd November, 2018, the filing read.

MCL is incorporated in India with paid-up equity share capital of 100,000 rupees comprising of 10,000 shares of 10 rupee face-value, nil turnover, registered with the Registrar Companies, Gujarat at Ahmedabad 22nd November, 2018 and is yet commence its business operations, the filing read.

Announcement from the company had hit the exchanges in India, after the trading session for the day on Thursday, had ended.

Hence, it will be indeed interesting, as to how the announcement draws attention of investors & traders, on Friday, when the trading session re-opens for the day and what sort of impact it makes on the company shares and group company stocks.