India, Nov. 4 -- Adani Enterprises Ltd (AEL) has incorporated a wholly owned subsidiary named Munger Sultanganj Road Limited (MSRL) on November 3, 2025. The new entity has been formed with a subscribed capital of ?1 lakh, divided into 10,000 equity shares of ?10 each.
MSRL will undertake the development, maintenance, and management of the "Construction of Ganga Path Connecting Munger (Safiabad)–Bariyarpur–Ghorghat–Sultanganj Road" project in Bihar under the Hybrid Annuity Model (HAM). The company is yet to commence operations and currently has no turnover.
The incorporation does not involve any related-party transaction, and Adani Enterprises will hold 100% ownership in the subsidiary. No regulatory approvals, share swap...