Adani Road Transport Limited (ARTL), a wholly owned subsidiary of Adani Enterprises, has signed a Share Purchase Agreement (SPA) on September 11, 2025, to acquire 100% stake in D P Jain TOT Toll Roads Private Limited (DPJTOT). The deal is valued at an Enterprise Value of up to Rs 1,342 crore and is subject to regulatory approvals and standard closing conditions.
Parties Involved
ARTL will acquire the stake from D P Jain TOT Toll Roads Pvt. Ltd., D P Jain & Co Infrastructure Pvt. Ltd., and DPJ-DRA Tollways Pvt Ltd. The company confirmed the transaction under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), 2015.
Key Terms of the Acquisition
- Stake Acquired: 100% of DPJTOT
- Enterprise Value: Not exceeding Rs 1,342 crore as of September 30, 2025
- Current Shareholding: ARTL had no prior stake in DPJTOT
- Related Party Transaction: The deal is not a related party transaction
- Share Issuance: Not applicable
Background and Purpose
The acquisition is part of ARTL’s strategic expansion in toll road operations and complements Adani Enterprises’ broader infrastructure portfolio. The transaction will allow ARTL to consolidate its presence in the highway and toll road sector, leveraging operational synergies with existing assets.
Other Disclosures
There are no additional disclosures, and the agreement does not include provisions for amendments or termination at this stage.
