Adani Enterprises Completes 51% Acquisition of DP Jain TOT Toll Roads for Up to ₹1,342 Crore

New Delhi: Adani Enterprises Limited on Tuesday informed stock exchanges that its wholly owned subsidiary, Adani Road Transport Limited (ARTL), has successfully completed the acquisition of 51% equity stake in D P Jain TOT Toll Roads Private Limited (DPJ TOT).

The acquisition was completed on February 10, 2026, in accordance with the terms of the share purchase agreement (SPA) originally executed on September 11, 2025, the company said in a regulatory filing to BSE and NSE.

DPJ TOT operates in the roads and highways infrastructure sector and holds the concession for tolling, operation, maintenance and transfer of the Palanpur–Radhanpur–Samkhayali stretch of National Highway-27 in Gujarat, covering KM 536+000 to KM 430+000.

The transaction has been carried out at an enterprise value not exceeding ₹1,342 crore as of September 30, 2025, subject to closing adjustments, and the consideration is being paid entirely in cash.

Adani Enterprises clarified that the remaining 49% stake, currently held by D P Jain & Co Infrastructure Private Limited and DPJ-DRA Tollways Private Limited, will be acquired by ARTL in subsequent tranches, subject to satisfaction of conditions precedent and receipt of required regulatory approvals.

The National Highways Authority of India (NHAI) has already approved the acquisition of 100% equity shares of DPJ TOT.

Incorporated on May 6, 2021, DPJ TOT has demonstrated steady operational performance, reporting a turnover of ₹122 crore in FY23, ₹143 crore in FY24, and ₹147 crore in FY25.

Adani Enterprises stated that the acquisition aligns with its strategy to expand its footprint in road infrastructure development, further strengthening the group’s presence in India’s transportation and logistics ecosystem.

Shares of Adani Enterprises (BSE: 512599 | NSE: ADANIENT) remain in focus following the announcement.