NEW DELHI: Adani Ports and Special Economic Zone (APSEZ) today said it has incorporated a wholly-owned subsidiary - Adani Bhavanapadu Port Private Limited Ltd (ABPPL).
The newly formed entity which would operate in the port sector is yet to commence operations, APSEZ said in a BSE filing.
"APSEZ has incorporated wholly-owned subsidiary company 'Adani Bhavanapadu Port Private Ltd' on May 21, 2018," it said.
Elaborating on the details, APSEZ said it has acquired 50,000 equity shares of Rs 10 each in ABPPL, for Rs 5 lakh.
APSEZ has 10 strategically located ports and terminals on both western and eastern coastline of India, representing 24 per cent of India's total port capacity.
Shares of the company today closed 0.90 per cent down at Rs 380.35 apiece on BSE.