Adani Enterprise’s wholly owned subsidiary - Adani Gas, will pick up 20% stake in a gas supply firm Green Gas. The company has valued Green Gas at around Rs 95 crore and a 20% stake would cost Rs 19 crore. The company will buy the equity from the Aditya Vikram Birla Group and financial institutions IDFC and UTI, which together hold 50% stake in Green Gas.
Green Gas is a joint venture company where Indian Oil Corporation (IOC) and GAIL India each holds 22.50% stake in the company while Uttar Pradesh State Industrial Development Corporation holds 5% stake.
Adani Enterprises (AEL) is the flagship company of the Adani Group, it is the country's largest coal importer-turned-domestic private mine developer-cum-operator (MDO). The company is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.
