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Adani Enterprises divests 100% stake in wholly-owned arm 'DC Development Noida'

Consequently, DCDNPL has ceased to be a WoS of the Company.

November 23, 2021 9:32 IST | India Infoline News Service
Adani Enterprises Ltd has informed that the Company has divested its 100% stake in DC Development Noida Private Limited, a Wholly Owned Subsidiary Company ("DCDNPL") on November 22, 2021 to AdaniConnex Private Limited (50% Joint Venture Company of AEL with EdgeConneX Europe B.V.)

Consequently, DCDNPL has ceased to be a WoS of the Company.

The Net-worth of the entity is Rs. 80,549/- as on March 31, 2021.

Consideration received from such sale/disposal is Rs.1,00,000/- (Rupees One lakh only) towards divestment of 10,000 Equity Shares at a price of Rs. 10 each.

As per regulatory filing, AdaniConnex Private Limited (50% Joint Venture Company with EdgeConneX Europe B.V. is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad.) is a related party falling under the joint control.

At around 9:33 AM, Adani Enterprises was trading at Rs1,667.85 apiece down by Rs7.7 or 0.46% on Sensex.

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PRESTIGE (NSE)

The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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