Adani Enterprises Incorporates Munger Sultanganj Road Limited
Filing Summary
Adani Enterprises Ltd. has incorporated a new wholly-owned subsidiary, Munger Sultanganj Road Limited (MSRL), on November 03, 2025. The subsidiary was formed to develop, maintain, and manage the Ganga Path road project in Bihar under a Hybrid Annuity Mode. MSRL has an initial subscribed capital of Rs. 1,00,000, comprising 10,000 equity shares of Rs. 10 each, with Adani Enterprises holding 100% of the share capital. The new entity operates in the infrastructure sector and has not yet commenced business operations, reporting a turnover of nil.
Adani Enterprises Limited has filed an intimation regarding the incorporation of a new company. This new entity, named Munger Sultanganj Road Limited, is a wholly-owned subsidiary of Adani Enterprises Limited. The subsidiary was officially incorporated in India on November 03, 2025. The parent company received confirmation of the incorporation on the same date.
The financial structure of the new subsidiary involves an initial subscribed capital of Rs. 1,00,000. This capital base is constituted by the issuance of 10,000 equity shares. Each of these equity shares carries a face value of Rs. 10. As a wholly-owned subsidiary, Adani Enterprises Limited holds 100% of the share capital of Munger Sultanganj Road Limited. The filing confirms that the subsidiary has not yet commenced its business operations, resulting in a current turnover of nil. The disclosure also specifies that this incorporation does not classify as a related party transaction.
Munger Sultanganj Road Limited will operate in the infrastructure sector. The stated objective for the company is the development, maintenance, and management of a specific road infrastructure project. The project is titled “Construction of Ganga Path Connecting Munger (Safiabad)-Bariyarpur-Ghorghat-Sultanganj Road”. This infrastructure development is located within the State of Bihar. The project is designated to be executed on a Hybrid Annuity Mode (HAM), a model for public-private partnership projects.
The legal establishment of Munger Sultanganj Road Limited occurred on November 03, 2025, within India. The company is registered with the Registrar of Companies located in Ahmedabad, Gujarat. Adani Enterprises Limited submitted the formal intimation of this corporate action to the BSE Limited and the National Stock Exchange of India Limited on November 4, 2025. This disclosure was made in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Adani Enterprises Limited is the flagship entity of the Adani Group, functioning as a business incubator focused on establishing new ventures. The company’s core business strategy involves developing large-scale infrastructure in sectors such as transportation and energy. Its current strategic priorities include expansion into emerging sectors like green hydrogen, airport management, data centers, and road infrastructure.
