New Delhi, Jun 12: Adani Enterprises Ltd (AEL) on Saturday said it has incorporated a wholly-owned subsidiary, Adani Cement Industries Limited (ACIL), to manufacture all types of cements.

In a filing to BSE, the company said it incorporated the wholly-owned subsidiary on June 11, 2021 and the subsidiary company yet to commence its business operations. Gautam Adani Becomes Second Richest Person in Asia After Massive Surge in His Wealth, Replaces China's Zhong Shanshan.

The new company will carry on business as manufacturers, producers, processors of all types of cements. ACIL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 11th June 2021, and is yet to commence its business operations. Adani, SBI Amongst Top Performing Companies in Q4 FY21.

ACIL has an authorised share capital of Rs 10 lakh and a paid-up share capital of Rs 5 lakh, Adani Enterprises said.