Adani announces wholly-owned arm for media business

Adani Enterprises Ltd (AEL), the in-house incubator of the Adani Group, on Wednesday announced incorporation of its subsidiary AMG Media Networks Limited.

The wholly-owned subsidiary (WOS) will start its business operations in due course.

"The company has incorporated a WOS namely, AMG Media Networks Limited on 26th April, 2022, with an initial authorized and paid-up share capital of Rs 1,00,000 each to carry on the business of media related activities, including...publishing, advertising, broadcasting, distributing etc. of content over different types of media networks," AEL said in a filing to BSE.

AEL, a flagship company of Adani Group, is one of the country's leading business houses.

Sanjay Pugalia, who was appointed as the CEO and Editor-in-Chief of the media initiative of Adani Group (now AMG Media Networks), is one of the directors on the board.

Pranav Adani, Managing Director (Agro, Oil & Gas) and Director of Adani Enterprises, Sudipta Bhattacharya, CEO, Adani Group (North America), are other two directors of AMG Media Networks, according to the information available with ROC.