Adani Enterprises to consolidate green hydrogen business

Adani Enterprises Limited (AEL) is convening a meeting for its equity shareholders on Monday, December 29, 2025, to approve a Composite Scheme of Amalgamation. The scheme involves the merger of Adani Green Technology Limited and Adani Emerging Businesses Private Limited into Adani Enterprises Limited. Adani Tradecom Limited will also merge into Adani New Industries Limited. The objective is to consolidate the green hydrogen ecosystem, enhance operational efficiencies, and reduce regulatory compliances.

Under the proposed scheme, Adani Enterprises will issue 11 fully paid-up equity shares (face value INR 10/- each) for every 553 fully paid-up equity shares (face value INR 10/- each) of Adani Emerging Businesses Private Limited. Additionally, Adani New Industries Limited will issue 1 fully paid-up equity share (face value INR 10/- each) for every 10 fully paid-up equity shares (face value Re. 1/- each) of Adani Tradecom Limited. The cut-off date for e-voting is Friday, November 22, 2025.

The valuation report, dated October 29, 2024, and fairness opinion, dated January 29, 2025, confirmed the proposed share exchange ratios as fair from a financial perspective. The board of directors of Adani Enterprises Limited unanimously approved the updated valuation and fairness opinion. The scheme is subject to necessary approvals from the National Company Law Tribunal, stock exchanges, and regulatory authorities.