Adani Ports and Special Economic Zone Limited (APSEZL) on Monday incorporated a wholly owned subsidiary company “Udanvat Leasing IFSC Limited” which is involved in the business of owning and leasing of aircrafts, the company informed in an exchange filing.
The new company is situated in GIFT City, Gandhinagar and is yet commence its operations , the Gautam Adani led company further said.
Udanvat has an authorized and paid-up share capital of Rs. 2.5 crore which is divided into 25,00,000 equity shares of Rs 10 each.
The Adani Group has been actively foraying into the aviation industry as it had also incorporated Adani Aviation Fuels Limited in September 2022.
This subsidiary was set up to be involved with sourcing, transporting, supplying and trading of aviation related fuels.