Adani Road Transport Limited (ARTL), a subsidiary of Adani Enterprises, has established Indore Gujarat Road Limited (IGRL) with a paid-up capital of ₹1 lakh. IGRL will focus on road infrastructure projects, the company said in a press release on the stock exchanges.
Adani Enterprises Limited (AEL) is making headlines after its wholly owned subsidiary, Adani Road Transport Limited (ARTL), incorporated a new step-down subsidiary, Indore Gujarat Road Limited (IGRL). This move reinforces Adani’s commitment to expanding its footprint in the road infrastructure sector.
According to the official filing, IGRL was incorporated on February 15, 2025, with an authorised and paid-up share capital of ₹1,00,000 (10,000 equity shares). The company has yet to commence business operations, and its primary objective will be to undertake infrastructure-related projects and associated activities.
The incorporation of IGRL aligns with Adani Enterprises’ broader strategy to strengthen its presence in the transportation sector. ARTL holds a 100% stake in IGRL, making it a wholly owned subsidiary. The company aims to develop road infrastructure and support India’s growing transportation needs.
No regulatory approvals were required for this move, and the transaction does not involve any related-party considerations. The acquisition was made without any cash consideration or share swap, as ARTL established IGRL as a new entity rather than acquiring an existing business.
Adani Enterprises Limited’s share price traded at ₹2,147.80 as of February 21, 2025, at 2:17 PM, reflecting a decline of ₹31.20 (-1.43%) from its previous close of ₹2,179.00. The stock opened at ₹2,190.45 and reached an intraday high of ₹2,199.60, while the lowest point of the session was ₹2,140.
Adani Enterprises remains in focus as its subsidiary, Adani Road Transport, expands with the incorporation of Indore Gujarat Road Limited. This move strengthens Adani’s presence in infrastructure development, aligning with its long-term growth strategy. The newly formed entity is yet to commence operations but is expected to play a key role in road infrastructure.
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Published on: Feb 21, 2025, 2:37 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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