Adani Transmission integrates arm for power transmission, distribution biz

Adani Transmission Ltd on Tuesday said it has incorporated a wholly-owned subsidiary, Adani Electricity Jewar Ltd, to carry on business of transmission, distribution and supply of power and other related infrastructure services.

"Company has incorporated its WOS (wholly owned subsidiary) in the name of Adani Electricity Jewar Ltd (AEJL) on 12th September, 2022 with an initial authorised and paid up capital of Rs 1,00,000 each to, inter alia, carry on the business of transmission, distribution and supply of power and other infrastructure services relating thereto," a BSE filing said.

AEJL will commence its business operations in due course, it stated.

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Axio annualised disbursals at Rs 5,000 cr

* Digital finance company axio on Tuesday said it has reached annualised disburals of Rs 5000 crore, up from Rs 1700 crore in 2021.

axio (formerly Capital Float) said it has doubled its customer base in the last twelve months to nearly 5.5 million credit customers.

The company is adding 10,000 new credit customers per day with a reach across 25,000 pincodes in the country, it said in a release.

"axio has also achieved a threefold growth in its disbursal rate and is currently clocking Rs 5,000 crore of annualized disbursals, up from Rs 1,700 crore in 2021. The remarkable increase in annual disbursals can also be attributed to 70 per cent of the customers engaging in repeat credit utilization," the company said.