Adani Group New Company: Gautam Adani’s group company Adani Ports and Special Economic Zone has added a new subsidiary. Subsidiary Udanvat Leasing is wholly owned by IFSC Limited, the company said in its exchange filing.
According to information provided by the Adani Group, the company is engaged in the business of aircraft ownership and leasing. The company is located in Gandhinagar, which has not started its operations yet. The authorized share capital of the company is Rs.2.5 crores. Its 25,00,000 shares have been allotted at a price of Rs.10 per share.
Adani Group is also active in aviation industries. During September 2022, Adani Group incorporated Adani Aviation Fuel Limited. This subsidiary was established to engage in fuel sourcing, transportation, supply and trading. Adani Group is focusing on growing business rapidly in this sector.
Status of Adani Port shares
On Monday, the first business day of the week, shares of Adani Group company Adani Ports and Special Economic Zone closed down 2.85 percent at Rs 771 per share. The stock has fallen 4.95% in the last five days. Also, this stock has fallen by 6.62% in one month. On the other hand, shares of Adani Enterprises fell 3.71 percent on Monday to close at Rs 2,304 per share. The stock has fallen as much as 6 percent in the past five days. Let me tell you that on Monday, shares of all Adani Group companies fell between 3 and 6 percent.
It is noteworthy that Adani Group has expanded its business in many sectors of India. The Adani Group is involved in businesses ranging from ports to new energy. In addition, the Group is involved in several businesses through several subsidiaries.
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