Wednesday, 22 March 2017

Adani Enterprises acquires 100% shares of AIPL >> Indian Stock Market Tips

Adani Enterprises has said that it has acquired Adani Infrastructure Pvt Ltd (AIPL), which is yet to commence business operations. AIPL with an authorized and paid up capital of Rs5 lakh is a subsidiary of Adani Properties Pvt Ltd for the development of infrastructure, a promoter group company. “The company has acquired 100% equity share capital of AIP. The transaction is done at arm’s length basis equity shares are acquired at a face value of Rs10 each,” the company said in a filing to the Bombay Stock Exchange. 

“A total of 50,000 shares were acquired,” the company said. AIPL was incorporated at Ahmedabad in Gujarat on 5 November 2015. Meanwhile, shares of the company were trading at Rs 102.80 apiece, down 0.82 percent from the previous close at 09:29 hours on BSE.

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