Adani Enterprises Completes Copper Tube Business Restructuring with MetTube
Adani Enterprises completed the divestment of 50% stake in Kutch Copper Tubes Limited and acquired 50% stake in MetTube Copper India Private Limited on November 1, 2025, making both joint ventures to expand its copper tube business.
The completion of these transactions represents a significant strategic realignment in the copper tubes business, converting subsidiaries into joint ventures and aiming for business expansion and import reduction, which has a medium-term impact on the company's operational structure and market position.
The transactions are strategically positive, aiming to bring synergies, expand the copper tube business, and contribute to India's self-reliance in copper tube requirements by reducing import dependence.
* Adani Enterprises Limited (AEL) has completed the previously intimated transactions related to its copper tubes business on November 1, 2025. * As part of a consolidated deal, the company has divested its 50% stake in Kutch Copper Tubes Limited (KCTL) to MetTube Mauritius Private Limited (MetTube). Consequently, KCTL has ceased to be a subsidiary of AEL. * Concurrently, AEL has completed the acquisition of a 50% stake in MetTube Copper India Private Limited (MCIPL). * Following the completion of these transactions, both KCTL and MCIPL have become joint ventures of Adani Enterprises Limited. * Details of KCTL Divestment: * Turnover of KCTL for FY2024-25 was ₹59.45 Lakhs, and its net worth as of March 31, 2025, was ₹(76.71) Lakhs. * The Share Purchase Agreement was executed on July 24, 2025. * Consideration received includes ₹4,96,94,880 in cash and 5,63,97,762 equity shares of MCIPL at ₹10 per equity share. * The buyer, MetTube Mauritius Private Limited, does not belong to AEL's promoter/promoter group. * Details of MCIPL Acquisition: * MCIPL is engaged in the copper tubes manufacturing business in India. * Its turnover for FY2024-25 was ₹1,07,911.75 Lakhs (₹1,079.12 crore), and its net worth as of March 31, 2025, was ₹2,591.04 Lakhs (₹25.91 crore). * The acquisition aims to bring synergies through the expertise of both Adani and MetTube groups to expand and scale up the copper tube business, helping India become self-reliant by reducing import dependence. * The consideration involved a swap of 50% of KCTL shares for an equivalent 50% equity shares of MCIPL. * AEL acquired 5,63,97,762 equity shares of MCIPL, representing 50% of its equity capital, at a cost of ₹10 per equity share. * MCIPL was incorporated on December 11, 2022. * MCIPL's turnover history: FY2024-25: ₹1,07,911.75 Lakhs; FY2023-24: ₹3,142.42 Lakhs; FY2022-23: ₹Nil.
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Adani Enterprises Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Adani Enterprises Limited. Read the original for the full detail.