Gautam Adani's next BIG step, Adani group merges two subsidiaries with THIS company to focus on...

Adani Energy Solutions Limited (AESL), on October 4, announced the incorporation of a wholly owned subsidiary company, Adani Energy Solutions Global Limited, which is an investing holding company. The AESL has 100% stake in the new company. 

Announcing the share prices, the company said, "Adani Energy Solutions Global Limited (“AESGL”) Initial Share Capital – USD 27,000 divided into 27,000 shares with a nominal value of USD 1 each,"

Notably, the newly established subsidiary company is aimed at exploring transmission project opportunities abroad. 

AESL share price

The shares of Adani Energy Solutions Limited (AESL) saw a dip by 5.19 per cent on Bombay Stock Exchange (BSE) on Friday, i.e., October 4. The scrip opened at Rs 1015 per share, marking a high of Rs 1021.05 and a low of Rs 956.

As per BSE analytics, shares of the company holds a market cap of Rs 1.15 lakh crores. A constituent of BSE 200, the firm engages in power distribution. 

AESL awarded the contract for the Khavda Phase-IV Part-A transmission network 

Adani Energy Solutions Ltd was awarded the contract for the Khavda Phase-IV Part-A transmission network, aimed at evacuating 7 gigawatt of renewable energy from the Khavda Renewable Energy Park into the National Grid. The company received the contract through a tariff-based competitive bidding process.