Adani Enterprises Limited has informed the Exchange about Incorporation of subsidiary Company
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Adani Enterprises has incorporated a new subsidiary called Morsagar Bisalpur Water Limited (MBWL) on November 3, 2025, registered with the RoC in Ahmedabad. MBWL has a small starting capital of Rs. 1 lakh (10,000 shares of Rs. 10 each) and has not yet started business operations. The subsidiary will handle the design, construction, and maintenance of the Mor Sagar Artificial Reservoir and a feeder line from Bisalpur to Mor Sagar in Rajasthan under the Hybrid Annuity Model. Adani Enterprises will hold 74% of MBWL, while Cemindia Projects Limited (formerly ITD Cementation India Limited), a related party, will hold the remaining 26%.
This is a routine subsidiary incorporation for a specific infrastructure project in water resources. Shareholders should note that the 26% partner is a related party, though the deal value is currently negligible. The move signals Adani's continued expansion into water and infrastructure projects, but the small capital base means minimal immediate financial impact on the listed entity.