Ospree International FZCO, Mumbai Travel Retail Pvt.'s wholly owned subsidiary, has successfully completed the UAE incorporation process.
Mumbai Travel Retail is an Adani Enterprises Ltd. step-down business. According to the exchange filing made on Wednesday, it created Ospree International FZCO with the intention of investing in commercial companies and management. It also holds all of the company's shares.
It was announced on February 13 that Ospree International FZCO has been incorporated and registered with the Dubai Integrated Economic Zones Authority, UAE.
The exchange filing stated that Ospree International FZCO has not yet commenced business activities.
Adani Enterprises' shares ended the day at Rs 3,208.65, up 0.94%, while the benchmark BSE Sensex saw a rise of 0.37%.
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