Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest integrated transport utility, has expanded its logistics portfolio by acquiring Dependencia Logistics Private Limited. The acquisition was carried out through its step-down subsidiary, Mandhata Build Estate Limited, which purchased 100% equity in Dependencia from Windson Projects LLP. The deal, executed under a Share Purchase Agreement on September 10, 2025, was valued at ₹37.77 crore in cash consideration.
Dependencia Logistics, incorporated in February 2022 and registered in Mumbai, was established to provide transportation and logistics services across different categories of goods. Although the company is yet to commence commercial operations, Adani Ports views this acquisition as a strategic step to strengthen its logistics presence and create synergies with its existing businesses.
The company confirmed that the transaction does not fall under related-party deals and no regulatory approvals were required for its completion. Following the agreement, Dependencia is now a wholly owned subsidiary under Adani Ports’ logistics arm.
Adani Ports also stated that the acquisition is aimed at supporting the development of its logistics business, which has been a major focus area in recent years.
