Adani Enterprises acquires Adani Infra

New Delhi: Adani Enterprises today 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 Rs 5 lakh is a subsidiary of Adani Properties Pvt Ltd for development of infrastructure, a promoter group company.

"The company has acquired 100 per cent equity share capital of AIPL...The transaction is done at arm's length basis...equity shares are acquired at a face value of Rs 10 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 November 5, 2015. Shares of Adani Enterprises closed at Rs 103.65 apiece on the BSE, up 0.39 per cent from the previous close.