 "Adani Green Energy")
Adani Green Energy said on on Wednesday it has incorporated a wholly owned subsidiary company Arasan Infra Two for transmission, distribution, and supply of power and other related infrastructure services.
The incorporated company has an authorised and paid-up capital of Rs 100,000. In a regulatory filing, Adani Green said the incorporation was completed on December 19.
The new subsidiary is registered with the Registrar of Companies in Ahmedabad.
On December 18, Adani Green announced the incorporation of four step-down subsidiaries: Adani Renewable Energy Sixty, Adani Renewable Energy Sixty Two, Adani Renewable Energy Sixty Three and Adani Renewable Energy Sixty-Four.
All these companies also had authorised and paid-up capital of Rs 100,000 each.
On December 15, Adani Green announced the incorporation of two step-down subsidiaries, Adani Renewable Energy Fifty-Six Ltd and Adani Renewable Energy Fifty-Seven Ltd.
Last week, Bloomberg reported that Adani Green is planning to raise $410 million through the issuance of new bonds, maturing in roughly one year. Before that, Adani Green had raised a $1.4 billion loan for a renewable energy project.
The company has been raising funds to pay a $750 million bond which is scheduled to mature in September next year. The finances of the Adani group grabbed attention after a report by US-based short-seller Hindenburg Research in January accused it of corporate fraud. Gautam Adani-led group has denied any wrongdoing.
On Wednesday, as of 3 pm, Adan Green's shares were trading 5.36 per cent in the red at Rs 1,449 on BSE.
