Adani Enterprises Limited has informed the Exchange about completion of acquisition of the balance 49% the equity share capital and 100% optionally convertible preference share capital of D P Jain TOT Toll Roads Private Limited by Adani Road Transport Limited, a wholly owned subsidiary of the Company.
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Adani Enterprises' wholly owned subsidiary Adani Road Transport Limited (ARTL) has completed the acquisition of the remaining 49% equity share capital and 100% optionally convertible redeemable preference shares of D P Jain TOT Toll Roads Private Limited (DPJ TOT) on March 10, 2026. This follows the earlier acquisition of 51% equity completed on February 10, 2026, making DPJ TOT a wholly owned subsidiary of ARTL. The total enterprise value for the acquisition does not exceed INR 1,342 crore as on September 30, 2025, paid entirely in cash. DPJ TOT holds a toll road concession for the Palanpur-Radhanpur-Samkhayali section of NH-27 in Gujarat, with reported turnover of INR 147 crore in FY25, up from INR 122 crore in FY23. The deal is part of Adani's strategy to grow its road infrastructure footprint.
DPJ TOT now becomes a wholly owned subsidiary, giving Adani Enterprises full control over the NH-27 toll road asset and its ~INR 147 crore annual revenue, with the cash outlay of up to INR 1,342 crore funded through the subsidiary. This is a bolt-on acquisition in a core infrastructure vertical and may marginally expand the group's road infrastructure portfolio, though the asset size is relatively small compared to Adani Enterprises' overall scale.