Mirzapur Thermal Energy becomes Adani Power arm following equity allotment

New Delhi, Jun 5 (PTI) Adani Power on Wednesday said that Mirzapur Thermal Energy U.P. Pvt Ltd has become its arm following the allotment of 99.8 per cent of its equity to the company.

"Company has been allotted 50,00,000 equity shares of Rs. 10/- each by Mirzapur Thermal Energy U.P. Private Limited (“MTEUPL”) on preferential basis resulting in a 99.8% equity stake in MTEUPL. Consequently, MTEUPL has become a subsidiary of the Company," a BSE filing said.

MTEUPL is yet to commence commercial activities and will be involved with infrastructure development activities.

The entity is a related party of Adani Power. Before allotment of equity shares of MTEUPL to the Company, the MTEUPL was a wholly owned subsidiary of Adani Infra (India) Ltd (AIIL). PTI KKS KKS MR