Adani Group’s Kutch Copper Ltd forms cable & wire JV with Praneetha Ventures 

Adani Enterprises Ltd announced the completion of the incorporation process of a new joint venture company, Praneetha Ecocables Ltd (PEL), through its wholly owned subsidiary Kutch Copper Ltd (KCL).

This newly formed company with Praneetha Ventures Pvt Ltd, will engage in manufacturing, marketing, buying and selling of metal products, cables and wires. KCL will hold 50 percent equity share capital in PEL, Adani Enterprises stated in a regulatory filing with stock exchanges on Wednesday.

• Read also: After Sri Lanka, Revolt Motors sets foot in Nepal

The PEL was officially incorporated on March 19, with an authorised and paid-up capital of ₹10 lakh, divided into 1,00,000 equity shares of ₹10 each. The joint venture has been incorporated in India and registered with the Registrar of Companies, Ahmedabad.