Mumbai (India), 28th July 2023: Adani Transmission Limited has changed its name to Adani Green Solutions Limited ahead of its June quarter results on Monday. Adani Transmission said in a stock exchange filing that the name change is effective July 27, based on the even-dated “Certificate of Incorporation pursuant to change of name” received from the registrar of companies (ROC), Ahmedabad.
The Adani group firm’s change of name has no effect on the rights and liabilities of stakeholders as a result of such change of name. Adani Green Solutions is obligated to display the company’s previous name alongside its new name for a period of two years in all places where the company is required to display its name in terms of Section 12 of the Act.
Adani Transmission announced the name change on May 29. The business stated in a BSE filing, “It was also approved to Change the name of the Company from “Adani Transmission Limited” to “Adani Energy Solutions Limited” subject to approval of shareholders, Ministry of Corporate Affairs (MCA) and such other applicable statutory / regulatory authorities.”
Gautam Adani stated at Adani Enterprises’ AGM earlier this month that Adani Transmission was growing, with the transmission company continuing to grow faster than the market. He stated that Adani Transmission’s earnings are expected to grow 18% and reach Rs 4,000 crore in annuity income.
He said, “I am also very pleased to state that ATL’s Mumbai distribution business achieved reliability of 99.99 per cent and was ranked the No.1 discom by the Union Ministry of Power. ATL will also take Mumbai to 60 per cent renewable power making it the first mega city in the world to achieve over 50 per cent power from solar & wind.”
Adani Transmission received shareholder permission in June to fund up to Rs 8,500 crore through the issuing of equity shares through qualified institutional placement.
Adani Transmission Ltd increased its consolidated net profit by 85.48 percent to Rs 439.60 crore in the March FY23 quarter, owing to greater income.
The company’s total income climbed to Rs 3,494.84 crore from Rs 3,165.35 crore in the previous quarter.
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