Mumbai Travel Retail Pvt. has completed the incorporation process of a wholly owned subsidiary, Ospree International FZCO, in the UAE.
Mumbai Travel Retail is a step-down subsidiary of Adani Enterprises Ltd. It incorporated Ospree International FZCO for the purpose of investment in commercial enterprises and management and also owns 100% of the share capital in it, according to the exchange filing issued on Wednesday.
Ospree International FZCO has been incorporated and registered with the Dubai Integrated Economic Zones Authority, UAE, with effect from Feb. 13, it said.
Ospree International FZCO is yet to start business operations, the exchange filing said.
Shares of Adani Enterprises closed 0.94% higher at Rs 3,208.65 apiece, as compared with a 0.37% rise in the benchmark BSE Sensex.
Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Ltd., an Adani Group company.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
