Adani Group's leading company Adani Enterprises' joint venture-April Moon Retail has made a big deal. April Moon Retail has bought 74% stake in Cococart Ventures for Rs 200 crore. Adani Enterprises has given this information in the stock exchange filing. Meanwhile, Adani Enterprises shares closed with a slight gain at Rs 3131.15.

What did Adani's company say

Adani Enterprises said- We would like to inform you that April Moon Retail Private Limited (AMRPL), a joint venture company of Adani Airport Holdings Limited (AAHL), has entered into a Share Purchase Agreement, Joint Venture Agreement and Share Subscription Agreement dated September 27, 2024 with the company and its existing shareholders Karan Ahuja and Arjun Ahuja for the acquisition of shares in Cococart Ventures. This will enable the company to acquire 74 per cent stake in Cococart Ventures. The acquisition will be completed by October 31, 2024 for a total consideration of Rs 200 crore.

About Cococart Ventures

Talking about Cococart Ventures, it is engaged in the business of buying, selling, labeling, relabeling, reselling, importing, exporting, transporting, storing, promoting, marketing or supplying goods, both retail and wholesale. The turnover of the company in the last three years was Rs 99.63 crore (in FY23), Rs 51.61 crore (FY22) and Rs 6.89 crore (FY21).

Announcement of new company

Recently, Adani Enterprises Limited has announced a wholly-owned subsidiary. This company will provide business and management consulting services. Recently, the company said in an exchange filing that a subsidiary named Adani GCC Private was incorporated on September 24 and its certificate was received on September 25. Adani GCC, registered in Ahmedabad, will provide business transformation and back office services. This includes services related to finance and accounts, HR, IT services, digital transformation and data entry processing.