Adani Enterprises Limited has informed the Exchange regarding 'Intimation for signing of Share Purchase Agreement between AdaniConneX Private Limited, a joint venture of the Company with Trade Castle Tech Park Private Limited and its existing shareholders.'.
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Adani Enterprises has informed the exchange that AdaniConneX Private Limited — its joint venture — has signed a Share Purchase Agreement with Trade Castle Tech Park Private Limited and its existing shareholders. AdaniConneX will acquire the company by purchasing shares from the current owners. AdaniConneX is Adani Enterprises' data centre joint venture. The financial terms, deal value and the specific stake being acquired have not been disclosed in this intimation. Trade Castle Tech Park appears to be a private limited entity based on its name.
This is a step-up in the data centre business through the JV route, which may expand AdaniConneX's footprint without directly impacting Adani Enterprises' standalone financials. Shareholders should watch for further disclosures on deal size, valuation and any future consolidation effects.