Adani Energy Solutions Limited — Important, 19-12-2024: Disclosure of material issue

Adani Energy Solutions Ltd has incorporated a wholly-owned subsidiary named Adani Energy Solutions Step-Ten Limited (AESSTL), which will focus on the transmission, distribution, and supply of power services. The new entity has an authorized and paid-up share capital of ₹1 lakh each, with its operations yet to commence, meaning it currently has no turnover. The transaction, completed through cash consideration, results in Adani Energy Solutions owning 100% of the shares, priced at ₹10 each. This strategic move indicates a potential expansion in the electric utilities sector and enhances the company's capacity to address infrastructure needs. Investors should remain attentive to developments regarding AESSTL's business initiation, as it could present growth opportunities in the energy market.