Adani Enterprises Completes Acquisition of DP Jain TOT Toll Roads for Up to ₹1,342 Crore
Adani Enterprises, via its subsidiary ARTL, has acquired the remaining 49% equity and 100% preference shares in DP Jain TOT Toll Roads Private Limited. The total acquisition is valued at up to ₹1,342 crore, paid in cash. This move expands Adani's road infrastructure footprint.
The acquisition involves a significant financial consideration (up to ₹1,342 crore) and adds a new entity to the company's portfolio, which could have a medium-term impact on its infrastructure business.
The acquisition is a strategic move to expand the company's footprint in the road infrastructure sector, indicating positive growth and expansion.
Adani Enterprises Limited (AEL), through its wholly owned subsidiary Adani Road Transport Limited (ARTL), has successfully completed the acquisition of the remaining 49% equity share capital and 100% optionally convertible redeemable preference share capital of D P Jain TOT Toll Roads Private Limited (DPJ TOT).
This acquisition marks the final step in ARTL's acquisition of 100% shareholding in DPJ TOT, following the initial 51% acquisition announced on February 10, 2026. The entire transaction was executed in accordance with the terms of the share purchase agreement (SPA) signed earlier. The company received the intimation of this completion on March 10, 2026, at 2:38 PM IST.
The acquisition is strategically aligned with Adani Enterprises' objective to expand its presence in the road infrastructure development sector. DPJ TOT, incorporated on May 6, 2021, holds a concession agreement for the tolling, operation, maintenance, and transfer of a specific section of NH-27 in Gujarat. The enterprise value for the acquisition of the balance shares does not exceed ₹1,342 crore as of September 30, 2025, and the consideration was paid in cash, subject to closing adjustments. DPJ TOT reported turnovers of ₹122 crore in FY23, ₹143 crore in FY24, and ₹147 crore in FY25.
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Adani Enterprises Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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