Adani Enterprises Limited on Friday announced that its joint venture AdaniConneX Pvt Ltd (ACX) has signed a Share Purchase Agreement (SPA) to acquire 100% equity stake in Trade Castle Tech Park Private Limited (TCTPPL). The agreement was executed on November 21, 2025, and the company received the information at 3:53 PM the same day .
According to the disclosure filed with stock exchanges, TCTPPL is an infrastructure-focused entity incorporated in October 2023 and has not yet commenced commercial operations. The company has an authorised and paid-up share capital of Rs 1 lakh, and while it is yet to begin business activity, it owns a sizeable land parcel and holds key licences needed for infrastructure development, which ACX said will give it a “head start” in upcoming projects .
Deal value and nature
The acquisition will be completed via cash consideration, with ACX purchasing TCTPPL at a valuation of Rs 231.34 crore. The transaction is not a related-party deal, and no government or regulatory approvals are required for completion, per the filing .
Purpose of acquisition
AdaniConneX stated that the deal aligns with its objective to set up infrastructure facilities, strengthening its development pipeline in the data-centre and allied infrastructure ecosystem.
Expected completion
The company expects the acquisition to be fully completed by the end of November 25, 2025 .
Adani Enterprises submitted the disclosure under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR).
