Adani moving into Reliance turf, plans petrochemical subsidiary
Petrochemical

Adani moving into Reliance turf, plans petrochemical subsidiary

The company will carry on the business of setting up refineries, petrochemicals complexes, specialty chemicals units, hydrogen and related chemicals plants and other such similar units

  • By ICN Group | August 02, 2021

Adani Enterprises Limited is moving into Reliance Industries Limited (RIL) turf by incorporating a wholly-owned subsidiary Adani Petrochemicals Limited (APL) on 30th July, 2021.

APL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 30th July, 2021. The company is yet to commence its business operations. The company will have an authorized and paid-up share capital of Rs. 1,00,000 i.e. 10,000 equity shares of Rs. 10 each.

The company will carry on the business of setting up refineries, petrochemicals complexes, specialty chemicals units, hydrogen and related chemicals plants and other such similar units.

Adani Enterprises Limited (AEL) is the flagship company of the Adani Group, one of India’s largest business organisations. Over the years, Adani Enterprises has focused on building stellar infrastructural assets contributing to nation-building. Having successfully built unicorns like Adani Transmission, Adani Power, Adani Ports & SEZ, Adani Green Energy and Adani Total Gas, the company has contributed significantly to make the country self-reliant.

The next-generation of its strategic business investments are centered on the fields of airport management, roads, data center and water infrastructure. Following these principles has led to very strong returns to our shareholders. A one-rupee investment in Adani Enterprises, which was the group’s first IPO in 1994, has returned over 800x.

Adani Group is a diversified organisation in India with a market cap of over US $89.89 billion (as on July 31, 2021) comprising 6 publicly traded companies.

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