In a filing to the exchanges after market hours on Monday, Adani Enterprises said the NCLT approved the “composite scheme of arrangement among Adani Green Technology Limited (AGETL), Adani Emerging Businesses Private Limited (AEBPL), Adani Enterprises Limited (AEL), Adani Tradecom Limited (ATL) and Adani New Industries Limited (ANIL).”
Once the scheme is completed, Adani Green Technology and Adani Emerging Businesses will merge with Adani Enterprises. All equity shares issued by Adani Green Technology and Adani Tradecom will be cancelled. For shareholders of Adani Emerging Businesses, Adani Enterprises will issue and allot 11 equity shares for every 553 equity shares held in the segment.
Adani Tradecom will merge with Adani New Industries, which will, in turn, issue one equity share for every 10 equity shares held by Adani Tradecom shareholders.
The effective date of the merger is yet to be announced. Adani Enterprises said it will be set as the last date on which all approvals and conditions are fulfilled.
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Notably, none of the business segments included in the scheme, apart from Adani Enterprises, are listed on stock exchanges. The conglomerate has undertaken several mergers and demergers over the years.Last month, NCLT approved the proposed merger of Sanghi Industries with Adani-led Ambuja Cements, which had completed the acquisition of Sanghi Industries at an enterprise value of Rs 5,185 crore in December 2023. In December 2024, the company approved the merger of Sanghi Industries and Penna Cement Industries with itself.
Adani Enterprises shares have fallen more than 2% in the past five days and over 12% in the past month, though the stock has delivered a return of nearly 106% over the past five years.
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