Adani Enterprises Limited has informed the Exchange about incorporation of a wholly owned subsidiary namely CORR TOLLWAYS LIMITED
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Adani Enterprises has incorporated a new wholly owned subsidiary called CORR Tollways Limited (CTL) on March 9, 2026. The new entity will handle tolling, operations and maintenance of the Chennai Outer Ring Road (Phase I: Vandalur to Nemilichery, and Phase II: Nemilichery to Minjur) under a concession from the Tamil Nadu State Highways Authority (TANSHA). The subsidiary is 100% owned by Adani Enterprises, with an initial paid-up capital of Rs. 10 lakh (subscribed at face value in cash). The road infrastructure segment continues to be a focus area for the Adani group's expansion.
This is a routine step to house a specific infrastructure project under a separate entity and is not material from a financial standpoint given the small initial capital. It signals continued expansion in the road infrastructure business and may allow project-level financing and accounting clarity for the Chennai ORR tolling asset.