Mumbai: Adani Global Limited (AGL), a wholly-owned subsidiary of Adani Enterprises Limited, announced on Thursday that it has acquired a 50% equity stake in Monvarex Aluminium Holding RSC Ltd. (MAHRSCL). The transaction involved a cash consideration of USD 25,000, equivalent to approximately ₹20.8 lakh.

Business Focus

MAHRSCL, incorporated in Abu Dhabi on 15 May 2025, operates in the metals, mining, and chemicals industry. The acquisition will allow AGL to undertake manufacturing and extracting alumina/aluminium smelter and coal-to-gas businesses in India.

Financial Overview

MAHRSCL has an authorised and paid-up share capital of USD 50,000 each. The company currently has a nil turnover as its commercial operations have not yet commenced.