Adani Enterprises Ltd.

Adani Enterprises has entered into a Share Purchase and Shareholders Agreements with MetTube Mauritius (MetTube). This is aimed at delivering next generation solutions to the heating, ventilation, and air conditioning (HVAC) industry through their state-of-the-art facilities. This alliance is aimed at reducing India’s dependence on imported copper tubes and building a robust domestic ecosystem for copper-based applications.

Under the agreement, the company will divest a 50% stake in its wholly owned subsidiary, Kutch Copper Tubes, to MetTube. Additionally, the company will invest 50% in MetTube Copper India, which is a wholly owned subsidiary of MetTube and operates a plant near Ahmedabad in Gujarat. The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business, keeping in mind India’s vision of improving energy efficiency and reducing carbon emissions.

The alliance leverages company’s forward-integrated copper ecosystem -- anchored by its 0.5 MTPA copper refinery project in Mundra -- and MetTube’s global manufacturing and marketing expertise. This synergy will enable scale and speed in copper tube production besides supporting India’s green infrastructure goals by supplying high performance copper tubes for HVAC, renewable energy, and smart construction applications. The copper tubes produced will cater to critical sectors such as air conditioning, refrigeration, and plumbing, where demand is surging due to urbanisation and climate-responsive infrastructure needs.

Adani Enterprises (AEL), the flagship company of the Adani Group, is one of India’s largest business organisations. The company has enhanced value for stakeholders by building prominent infrastructure assets and widening its presence across a range of sectors directed towards responsible nation-building.