Adani Enterprises Incorporates Wholly Owned Subsidiary for Bihar Road Project
The new subsidiary, MSRL is established within the Infrastructure industry and is set to undertake a key project in the state of Bihar, India.
Ahmedabad, November 4, 2025 - Adani Enterprises Limited (AEL) , a flagship company of the Adani Group , today announced the incorporation of a wholly owned subsidiary (WOS) named Munger Sultanganj Road Limited (MSRL). The confirmation of incorporation was received by the company on November 3, 2025, at 3:40 pm IST. The new subsidiary, MSRL is established within the Infrastructure industry and is set to undertake a key project in the state of Bihar, India.
Project Focus and Details
MSRL's primary objective is "to carry out the development, maintenance and management of the project 'Construction of Ganga Path Connecting Munger (Safiabad)-Bariyarpur-Ghorghat-Sultanganj Road in the State of Bihar on Hybrid Annuity Mode"..
As a wholly owned subsidiary, AEL will hold 100% of the share capital of MSRL. The subsidiary's subscribed capital is Rs. 1,00,000, divided into 10,000 equity shares of Rs. 10 each.
Corporate Background
MSRL was incorporated in India on November 3, 2025 and is registered with the Registrar of Companies, Ahmedabad. Since its incorporation is recent, MSRL's turnover is currently Nil, as it is "yet to commence business operations".
The incorporation was formally communicated to the stock exchanges, including BSE Limited (Scrip Code: 512599) and the National Stock Exchange of India Limited (Scrip Code: ADANIENT) , via an intimation letter dated November 4, 2025.
The document confirming the incorporation was signed by Jatin Jalundhwala, Company Secretary & Joint President (Legal) for Adani Enterprises Limited.
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