Adani Enterprises has established a joint venture with MetTube Mauritius to enhance domestic production capabilities in the copper tubes segment, aiming to reduce reliance on imports and leverage each other's strengths in manufacturing.

Target Information

Adani Enterprises Limited has entered into a share purchase agreement with MetTube Mauritius Private Limited to establish an equal joint venture within the copper tubes segment. This agreement entails Adani offloading a 50% stake in its wholly-owned subsidiary, Kutch Copper Tubes Limited (KCTL), to MetTube. Following the completion of this transaction, KCTL will cease to be a subsidiary of Adani Enterprises, with both companies holding an equal stake of 50%.

Furthermore, as part of this deal, Adani Enterprises will acquire a 50% stake in MetTube Copper India Private Limited (MCIPL). This entity operates a copper tube manufacturing plant situated near Ahmedabad, Gujarat. Once the transaction is finalized, both Adani and MetTube will be equal partners in MCIPL, enhancing their collaborative capabilities in the copper tubes market.

Industry Overview in India

The Indian manufacturing landscape is undergoing transformative growth, specifically in the copper production sector, which is vital for various industries including electronics, plumbing, and HVAC (heating, ventilation, and air conditioning). With in