Last week, in its regulatory filing, Adani Ports said, "The Company has incorporated as a wholly-owned subsidiary of the Company for carrying out the business of dredging/desiltation and sale/disposal of such desilted material from sea, river, dams, other water bodies etc."
Aqua Desilting belongs to dredging/desiltation and sale/disposal of such desilted material from the sea, river, dams, other water bodies etc and is yet to commence its business operations.
Adani Ports hold a 100% stake in Aqua Desilting.
Aqua Desilting is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on February 19, 2021.
At around 12.02 pm, Adani Ports perform at Rs666.95 per piece up Rs14.45 or 2.21% on Sensex. The stock has touched an intraday high of Rs671.70 per piece in early deals of Sensex.