Adani Enterprises Limited (AEL) has announced the incorporation of a new subsidiary, MRDP-III Development Limited (MDL), by its wholly owned subsidiary Adani Road Transport Limited (ARTL). The incorporation took place in India on December 18, 2025, with confirmation received by AEL on the same day at 4:58 PM IST. MDL has a subscribed capital of ₹1,00,000, divided into 10,000 equity shares of ₹10 each. Its turnover is currently nil as it has not yet commenced business operations. The company belongs to the Infrastructure Development sector. The primary objective of MDL is to carry on the business of river rejuvenation and environmental improvement, specifically focusing on the implementation of the Mithi River Development and Pollution Control Project (Package III). This project covers the stretch from CST Bridge, Kurla to Mahim Causeway, along with the Vakola River and adjoining areas. AEL holds a 100% share capital in ARTL, and ARTL, in turn, holds a 51% equity stake in the newly incorporated MDL. The announcement also clarifies that the transaction does not fall within related party transactions and is not applicable for promoter/promoter group/group companies' interest. No specific governmental or regulatory approvals are required at this stage, and there is no indicative time period for completion or a specified nature of consideration as the entity is newly incorporated.