Taking a significant step to strengthen its position in the clean energy sector, Adani Enterprises Limited (AEL) has received approval from the National Company Law Tribunal (NCLT), Ahmedabad bench, for a ‘Composite Scheme of Arrangement.’ This approval, granted on Monday, paves the way for a major restructuring within the Adani Group, aimed at consolidating the group’s green hydrogen ecosystem under a focused leadership.
The approved plan, which involves five companies of the Adani Group, is designed to streamline operations, enhance efficiency, and create a strong, integrated platform for the production of green hydrogen and its associated downstream products.
Two Companies will be Merged into Adani Enterprises
The merger of Adani Green Technology Limited (AGETL) and Adani Emerging Businesses Private Limited (AEBPL) will be carried out into their parent company, Adani Enterprises Limited (AEL). In exchange for the merger of AEBPL, AEL will issue 11 equity shares for every 553 shares held by AEBPL’s shareholders.
Second Scheme
In the second part of the scheme, Adani Tradecom Limited (ATL) will be merged into Adani New Industries Limited (ANIL), which has been designated as the core unit for the green hydrogen business. For this merger, ANIL will issue 1 equity share for every 10 shares of ATL.
The Shares of These Companies Will be Extinguished
Under this scheme, all equity shares of AGETL held by ATL will be cancelled and extinguished. Once the plan comes into effect, AGETL, AEBPL, and ATL will be wound up/dissolved without undergoing any formal liquidation process.
The NCLT order stated that the company had mentioned in its petition: “The objective is to bring the green hydrogen ecosystem under a single entity, which will work with full dedication and autonomy for the development and production of various renewable energy components and green hydrogen.”
