Adani Enterprises Limited has informed the Exchange about Completion of transaction
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Adani Enterprises has completed a two-part deal with MetTube Mauritius Private Limited originally signed on July 24, 2025, and announced as completed on November 1, 2025. In the first part, the company divested 50% of its stake in Kutch Copper Tubes Limited (KCTL) to MetTube for a cash consideration of about Rs 4.97 crore plus equity shares of MCIPL. In the second part, it acquired a 50% stake in MetTube Copper India Private Limited (MCIPL) through a share swap at Rs 10 per share. As a result, both KCTL and MCIPL are now joint ventures of Adani Enterprises rather than subsidiaries. MCIPL had a turnover of Rs 10,791 crore in FY25 versus KCTL's Rs 59.45 lakhs, making MCIPL the much larger entity in the partnership. The deal is not a related-party transaction, and MetTube is not part of the promoter group.
Shareholders should note that Adani Enterprises has effectively consolidated its copper tubes business into a joint venture with a global partner, gaining access to a much larger revenue base (MCIPL's ~Rs 10,800 crore turnover) while sharing control. The transaction itself is minor in cash terms but strategically positions the company to scale copper tube manufacturing in India and reduce import dependence. The loss of full subsidiary status of KCTL limits direct control but the JV structure could unlock synergies and expertise.