Adani Green Energy announces the formation of Arasan Infra II, a subsidiary

 Adani Green Energy announces the formation of Arasan Infra II, a subsidiary

Adani Green has already declared the inclusion of four step-down subsidiaries on December 18.

Arasan Infra Two, a fully owned subsidiary for the transmission, distribution, and supply of electricity as well as other associated infrastructure services, was created by Adani Green Energy on Wednesday, the company said.

The incorporated corporation has Rs 100,000 in approved and paid-up capital. Adani Green said in a regulatory filing that the incorporation was completed on December 19.

The new subsidiary has been registered with Ahmedabad's Registrar of Companies.

Adani Renewable Energy Sixty, Adani Renewable Energy Sixty-Two, Adani Renewable Energy Sixty-Three, and Adani Renewable Energy Sixty-Four are the four step-down subsidiaries that Adani Green announced on December 18.

A total of Rs 100,000 had been approved and paid up capital for each of these firms.

Adani Green stated on December 15 that Adani Renewable Energy Fifty-Six Limited and Adani Renewable Energy Fifty-Seven Limited, two step-down subsidiaries, had been incorporated.

According to a Bloomberg story from last week, Adani Green intends to issue fresh bonds with a one-year maturity date in order to raise $410 million. Adani Green has previously raised loans totaling $1.4 billion for a project using renewable energy.

In order to pay off $750 million in bonds that are scheduled to maturity in September of next year, the corporation is seeking capital. The Adani Group's financials came under scrutiny in January after charges of corporate malfeasance made in a report by US-based short-seller Hindenburg Research. The organization managed by Gautam Adani has denied any misconduct.

On the BSE, shares of Aidan Green were down 5.36 percent at Rs 1,449 as of Wednesday afternoon at 3 p.m.