Adani Enterprises has entered into a share purchase and shareholders’ agreement with Mettube Mauritius, part of the Metdist Group, to manufacture copper tubes in India for the heating, ventilation, and air conditioning (HVAC) industry.

As part of the arrangement, Adani Enterprises will divest a 50 per cent stake in its wholly owned subsidiary, Kutch Copper Tubes, to Mettube. Simultaneously, Adani will acquire a 50 per cent stake in Mettube Copper India, a wholly owned subsidiary of Mettube, which operates a copper tube manufacturing plant near Ahmedabad. Financial terms of the transaction were not disclosed.

Mettube Copper India, part of the London-headquartered Metdist Group, is a global leader in precision copper tube manufacturing with more than five decades of experience. Mettube runs advanced production facilities in Malaysia and India, supplying inner-grooved and smooth copper tubes to leading HVAC and refrigeration brands worldwide.

The Ahmedabad plant, commissioned in 2024, is India’s first manufacturing facility for inner-grooved copper tubes, offering over 350 customised product profiles that comply with international quality, performance, and sustainability benchmarks.

The Metdist Group has also made investments in copper rod and wire production in both Malaysia and India, and holds interests in India’s financial services, apparel, and hospitality sectors.

Adani Enterprises brings to the partnership its copper ecosystem built around the Rs 500 billion greenfield copper refinery at Mundra, which includes the Kutch Copper Tubes facility.

“The dual investment structure ensures equal ownership and shared governance, enabling both entities to co-create a future-ready copper tube business aligned with India’s goals for energy efficiency and carbon reduction,” said Jeet Adani, Whole-Time Director of Adani Group.

The alliance combines Adani’s forward-integrated copper infrastructure with Mettube’s global manufacturing expertise, aiming to serve the growing domestic and global demand in air conditioning, refrigeration, and plumbing—industries being driven by rapid urbanisation and sustainability needs, added Apurv Bagri, Chairman of Metdist Group.