Adani Power Limited has informed the exchanges that its step-down wholly owned subsidiary Progressive-UP Atomic Energy Limited (PUAEL) was incorporated on June 25, 2026. PUAEL is a wholly owned subsidiary of Adani Atomic Energy Limited (AAEL), which itself is a wholly owned subsidiary of Adani Power. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
PUAEL is classified under the nuclear energy industry. The main business objective is to generate, transmit, and distribute power derived from nuclear or atomic energy sources. The incorporation advances Adani Power's presence in atomic power generation through its multi-tier subsidiary holding structure.
The entity was incorporated with an authorized capital of Rs 5,00,000 divided into 50,000 equity shares with a face value of Rs 10 each. The entire share capital of PUAEL is held by AAEL. AAEL holds 100 percent of the shareholding in the newly incorporated entity.
The consideration for the share subscription was cash. Adani Power confirmed that no governmental or regulatory approvals were required for establishing the step-down subsidiary. The incorporation was completed within India.
The step-down subsidiary places Adani Power's nuclear energy operations under a separate legal entity. AAEL, the wholly owned intermediate subsidiary, was established earlier to pursue atomic energy opportunities. PUAEL will focus on power generation, transmission, and distribution from nuclear and atomic sources.
Adani Power's generating portfolio includes thermal and renewable energy plants. The new entity adds atomic power generation to the group's existing energy offerings through the subsidiary structure.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.