Adani Road Transport to Acquire DP Jain TOT Toll Roads in ₹1,342 Crore Deal

12 Sep 2025 , 12:06 PM

Adani Road Transport Ltd. (ARTL), a wholly owned subsidiary of Adani Enterprises, has signed a Share Purchase Agreement (SPA) to acquire 100% stake in D P Jain TOT Toll Roads Pvt. Ltd. (DPJTOT). The agreement, executed on September 11, 2025, also involves D P Jain & Co Infrastructure Pvt. Ltd. and DPJ-DRA Tollways Pvt. Ltd.

The transaction is subject to regulatory approvals and customary closing conditions. ARTL has confirmed that the acquisition cost will be at an enterprise value not exceeding ₹1,342 crore as of September 30, 2025.

According to the filing, ARTL did not hold any stake in DPJTOT at the time of execution. The acquisition does not fall under related party transactions, and no special rights or share issuance are involved. The deal is in line with Adani Group’s ongoing strategy to expand its roads and highways portfolio under the National Highways Authority of India’s (NHAI) Toll-Operate-Transfer (TOT) model.

Adani Enterprises shares gained dipped 0.033% today, trading at ₹2,398 at 12:00 pm. Adani Enterprises shares have dipped 19% in the last year, an dgained 6% in the last six months.

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