AdaniConneX Private Limited (ACX), a joint venture of Adani Enterprises Limited, has incorporated a wholly owned subsidiary, Navi Mumbai Power Distribution Limited (NMPDL).
NMPDL has been incorporated in India and registered with the Registrar of Companies, Ahmedabad. The subscribed capital of the company is Rs 100,000, divided into 10,000 equity shares of Rs 10 each. The entity will undertake the business of electric power generation and distribution. Through ACX, the company indirectly holds a 50 per cent stake in NMPDL.