Adani Power Limited has announced that Mirzapur Thermal Energy U.P. Private Limited (MTEUPL) has become its subsidiary following the allotment of 99.8 per cent of its equity to the company.
The company has been allotted 5,000,000 equity shares of Rs 10 each by MTEUPL on preferential basis resulting in a 99.8 per cent equity stake in MTEUPL. MTEUPL is yet to commence commercial activities and will be involved with infrastructure development activities.