Adani Enterprises Floats Subsidiary Adani GCC To Offer Business Consultancy Services

Adani Enterprises Ltd., the flagship entity of the ports-to-power conglomerate Adani Group, on Wednesday announced the incorporation of a wholly-owned subsidiary that will offer business and management consultancy services.

The subsidiary firm, named Adani GCC Pvt., was incorporated on Sept. 24 and the certificate of incorporation was received on Sept. 25, an exchange filing stated.

The company has been set up with a paid-up share capital of Rs 5 lakh, divided into 50,000 equity shares of face value of Rs 10 each. The parent entity has subscribed 100% of the share capital in cash, it added.

Registered in Ahmedabad, Adani GCC will provide business transformation and back office services, including those related to finance and accounts, human resources, information technology services, digital transformation, and data entry processing.

The company will also offer "mining and analytics, business process management, supply chain, procurement, administrative, logistical and other support services of all kinds on shared basis", the filing said.

The announcement comes after Adani Enterprises incorporated a wholly-owned subsidiary, Adani Energy Resources (Shanghai) Co. (AERCL), in China on Sept. 2. The firm was set up to offer supply chain solutions and project management services.

On Aug. 27, Adani Power Ltd. incorporated a new subsidiary, Adani Power Middle East Ltd., in the United Arab Emirates. The entity will focus on investments in infrastructure, power and other related sectors.

Shares of Adani Enterprises were trading marginally higher by 0.08% at Rs 3,097.4 apiece on the NSE, compared to a decline of 0.06% in the benchmark Nifty 50 at 1:50 p.m.

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