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Adani Group is now the largest airport operator in India after its takeover of the Mumbai International Airport

Adani Group is now the largest airport operator in India after its takeover of the Mumbai International Airport
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Adani Enterprises incorporates new subsidiary for cement business

Adani Enterprises incorporates new subsidiary for cement business SECTIONS Last Updated: Jun 14, 2021, 01:41 PM IST Share Synopsis Adani Enterprises Ltd. incorporate a new subsidiary, Adani Cement Industries Limited that will deal in all the cement related businesses. It is yet to start its operations. Reuters Related ACIL), to manufacture all types of cements. In a filing to BSE, the company said it incorporated the wholly-owned subsidiary on June 11, 2021 and the subsidiary company yet to commence its business operations. The new company will carry on business as manufacturers, producers, processors of all types of cements. ACIL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 11th June, 2021, and is yet to commence its business operations. ACIL has an authorised share capital of Rs 10 lakh and a paid-up share capital of Rs 5 lakh, Adani Enterprises said.

Adani Group enters cement business, incorporates Adani Cement Industries

Adani IPO: Adani Group plans to hive off airport business, launch IPO

The Gautam Adani-led business house entered the airport sector in 2019. Rs 30k-cr Capex Plan for Airports Incubated within Adani Enterprises, Adani Airports won the mandate to modernise and operate six airports – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram – through the Airports Authority of India’s tendering process. The unit has become the country’s top airport platform, catering to at least 10% of India’s air passenger traffic, exceeding 200 million people in FY20. In August last year, the group announced that it had acquired a 74% stake in Mumbai International Airport (MIAL), which runs Chhatrapati Shivaji Maharaj International Airport. This gave Adani ownership of the upcoming Navi Mumbai Airport, in which MIAL holds 74%. Adani Airports has debt of Rs 4,100 crore while that of AEL amounts to Rs 15,293 crore.

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