Adani Enterprises Limited has officially launched its new subsidiary, Morsagar Bisalpur Water Limited (MBWL), as of November 3, 2025. The incorporation of MBWL was confirmed at 4:37 PM IST on the same day. This strategic move is part of Adani's ongoing expansion in the infrastructure and water resource management sectors. The new entity is registered in Ahmedabad, Gujarat, and is set to focus on the design, finance, development, construction, operation, and maintenance of the Mor Sagar Artificial Reservoir and its feeder system from Bisalpur in Rajasthan under a Hybrid Annuity Model.

The subsidiary has a subscribed capital of Rs. 1,00,000, divided into 10,000 equity shares priced at Rs. 10 each. Currently, MBWL has no revenue as it has yet to commence operations. Adani Enterprises will hold a controlling stake of 74% in MBWL, while the remaining 26% will be owned by Cemindia Projects Limited, formerly known as ITD Cementation India Limited, which is a related party to Adani. The incorporation of MBWL does not involve any related party transactions that would require additional disclosures, and no regulatory approvals are needed for this venture.

This initiative highlights Adani Enterprises’ commitment to enhancing its infrastructure capabilities and marks a significant step in addressing water resource management challenges in India. The establishment of MBWL is expected to contribute to the company's broader goals in sustainable development and infrastructure growth, further solidifying Adani's position in the market. As the company prepares to launch operations, stakeholders will be keenly observing how this new subsidiary will impact both the local economy and Adani's overall business portfolio.