Adani Group Announces New Company Merger: Gautam Adani's Conglomerate Shares Key Update

New Delhi: Adani Energy Solutions Limited (AESL) has announced the incorporation of a new wholly owned subsidiary, Adani Energy Solutions Global Limited on October 4. This newly formed company, with an initial share capital of USD 27,000, will focus on exploring business opportunities in transmission projects outside of India. AESL owns 100 per cent of the subsidiary.

What AESL Said In An Exchange Filing?In an official statement, AESL said, “Adani Energy Solutions Global Limited (AESGL) has been incorporated with an initial share capital of USD 27,000, divided into 27,000 shares with a nominal value of USD 1 each.” AESL's Recent StakeOn September 28, North Maharashtra Power Limited (NMPL), a step-down subsidiary of AESL, allotted equity shares to Adani Properties Private Limited (APPL), which is a related party. The shares represent 99.90 per cent of NMPL’s post-issue paid-up capital. Following this transaction, NMPL ceased to be a subsidiary of Adani Energy Solutions, effective September 28, 2024. AESL Share Price PerformanceOn Friday, shares of Adani Energy Solutions dropped by 5.19 per cent on the BSE, closing at Rs 963.45 per share. The stock opened the day at Rs 1,015 per share, reaching a high of Rs 1,021.05 and a low of Rs 956. The previous day’s closing price was Rs 1,016.20 per share. AESL: McapAs per BSE data, AESL has a market capitalization of Rs 1.15 lakh crore. The company is part of the BSE 200 index and operates primarily in the power distribution sector.

AESL Q1 Results: Revenue From OperationsIn the first quarter of FY25, AESL reported revenue from operations of Rs 113.89 crore, down from Rs 415.67 crore in the fourth quarter of FY24. AESL Q1 Results: Net ProfitThe company recorded a net profit of Rs 76.64 crore in Q1 FY25. AESL Q1 Results: Earning Per ShareThe Earnings Per Share (EPS) for the quarter stood at Rs 0.69, indicating how much profit the company earns per share of stock. AESL: Contract WinIn another major development, AESL has been awarded a contract for the Khavda Phase-IV Part-A transmission network. This project will involve evacuating 7 gigawatts of renewable energy from the Khavda Renewable Energy Park to the National Grid. The contract, which was secured through a competitive bidding process, will be executed on a build, own, operate, and transfer (BOOT) basis for a period of 35 years.( Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money-related decisions.)