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Monday, July 26, 2021

Adani Group to foray into cement business

ACIL has an authorised share capital of Rs 10 lakh and paid-up share capital of Rs 5 lakh each and the new entity has 50,000 equity shares of Rs 10 each, Adani Enterprises stated in its filing with BSE.

By: Express News Service | Ahmedabad |
June 12, 2021 9:23:14 pm
Adani Group, Adani EnterprisesGautam Adani, Chairman, Adani Group (Image source: Reuters)

Adani Enterprises, the flagship company of the Adani Group, on Saturday told the stock exchanges that it has incorporated a wholly-owned subsidiary, Adani Cements Industries Limited (ACIL).

ACIL has an authorised share capital of Rs 10 lakh and paid-up share capital of Rs 5 lakh each and the new entity has 50,000 equity shares of Rs 10 each, Adani Enterprises stated in its filing with BSE. ACIL was incorporated on June 11, 2021, it added.

Adani Enterprises also stated that ACIL is yet to commence its business operations and the new entity will carry out “business as manufacturers, producers and processors of all types of cements.”

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