Adani Enterprises acquires Alluvial Mineral Resources

Adani Enterprises Limited said that it has acquired 100% of Alluvial Mineral Resources from Adani Infra (India) for INR 71,000.

For this, the Indian conglomerate purchased 10,000 shares priced at INR 10 each.

Adani Infra (India) is a related party falling under the joint control that is Adani Group.

According to Adani Enterprises, the deal is being executed on an arm’s length basis, based on an independent valuation report.

Alluvial Mineral Resources is involved in undertaking mining of minerals and ores activities and other related activities in any part of India or elsewhere.

Incorporated in November 2020, Alluvial Mineral Resources is yet to begin business operations.