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New Delhi, Dec 2: Adani Enterprises Ltd, the flagship firm of business tycoon Gautam Adani's group, on Tuesday said it has completed a Rs 231.34 crore acquisition of Trade Castle Tech Park (TCTPPL), an infrastructure developer which owns sizeable land parcels.
Share Purchase Agreement Executed
AdaniConneX (ACX), a joint venture of Adani Enterprises Ltd and data centre operator EdgeConneX, had executed a share purchase agreement on November 21, 2025 with TCTPPL and Shree Naman Developers and Jayesh Shah (existing shareholders of TCTPPL) to acquire 100 per cent stake in TCTPPL.
Purpose of Acquisition
The acquisition was to set up infrastructure facilities, it had said without elaborating.
AEL Confirms Completion
"AdaniConneX Pvt Ltd has completed the acquisition of 100 per cent stake of Trade Castle Tech Park Pvt Ltd and thereby TCTPPL has become a step-down joint venture of the company," AEL said in a stock exchange filing.
Deal Value and Company Background
The purchase consideration for the acquisition is Rs 231.34 crore, Adani Enterprises Ltd (AEL) had said on November 21.
About TCTPPL
"TCTPPL is incorporated in India and registered with the Registrar of Companies, Maharashtra at Mumbai on October 16, 2023 with an object for carrying out infrastructure development activities. While TCTPPL is yet to commence commercial activities, it owns a sizable land parcel and has secured key licences to commence infrastructure activities, which would give a head start to ACX," it had said.
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About AdaniConneX
AdaniConneX is a 50:50 joint venture of Adani Group and EdgeConneX, established to develop a 1 GW national data centre platform over the next decade. The company operates data centres across Chennai, Navi Mumbai, Noida, Pune and Hyderabad.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
