Adani Enterprises Limited has announced the incorporation of a new step-down subsidiary, Cococart International-FZCO (CIFZCO), in Dubai, UAE through its subsidiary Cococart Ventures Private Limited (CVPL). The confirmation of the incorporation was received on March 21, 2025, at 3:35 PM IST.
Key Details of the New Subsidiary
- Name: Cococart International-FZCO (CIFZCO)
- Location: Dubai, UAE
- Issued Share Capital: AED 100,000, divided into 10,000 equity shares of AED 10 each
- Ownership: 100% owned by Cococart Ventures Private Limited (CVPL)
- Business Objective: Engaged in overseas trading to further expand CVPL’s business
The newly incorporated subsidiary has been registered with the Dubai Integrated Economic Zones Authority (DIEZ) in Dubai Silicon Oasis. However, CIFZCO is yet to commence its business operations, and its turnover currently stands at Nil.
Strategic Expansion Move
The establishment of CIFZCO aligns with Adani Enterprises’ strategy of expanding its global footprint in overseas trading. The company aims to leverage its new entity in Dubai to enhance its international trade operations.
Adani Enterprises has confirmed that this incorporation does not fall under related party transactions, and no regulatory approvals were required for this process.