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Adani Enterprises Ltd confirmed earlier this week that it had finalised the INR 231.34 crore acquisition of Trade Castle Tech Park Pvt Ltd through its joint venture, AdaniConneX. The deal, initiated in the past week through a share purchase agreement with the company's existing stakeholders, gives AdaniConneX full ownership of an entity holding substantial land parcels and key infrastructure licences. Although the acquired firm has yet to begin commercial operations, the JV expects the assets to accelerate its national data centre expansion plans, particularly in line with its long-term 1 GW capacity strategy.
Adani Enterprises Ltd, the flagship company of the Gautam Adani-led conglomerate, stated earlier this week that it had completed the INR 231.34 crore acquisition of Trade Castle Tech Park Pvt Ltd (TCTPPL), an infrastructure developer holding extensive land assets. Advertisement
The transaction was undertaken by AdaniConneX (ACX), the 50:50 joint venture between Adani Enterprises and global data centre operator EdgeConneX. The JV had executed a share purchase agreement in the past week with TCTPPL and its existing shareholders-Shree Naman Developers and Jayesh Shah-to acquire the entire equity of the company. The acquisition was aimed at establishing new infrastructure facilities, though specific details were not disclosed at the time.
In a stock exchange filing, Adani Enterprises noted that ACX had completed the acquisition of 100 per cent stake in TCTPPL, resulting in the latter becoming a step-down joint venture entity within the group's structure. The firm reiterated that the purchase consideration stood at INR 231.34 crore.
TCTPPL, incorporated in India and registered in Mumbai in late 2023, was formed with the objective of undertaking infrastructure development activities. Although it has not yet begun commercial operations, the company possesses a significant land parcel and has obtained critical licences required to launch infrastructure projects-features that, according to Adani Enterprises, will offer ACX an operational head start.
AdaniConneX, created to develop a 1 GW national data centre platform over a ten-year horizon, currently operates facilities across Chennai, Navi Mumbai, Noida, Pune and Hyderabad. The latest acquisition adds to the JV's strategy of securing land and regulatory readiness for future high-capacity data centre deployments.
Source - PTI
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