Adani Road Transport Acquires DP Jain TOT Toll Roads for ₹1,342 Crore

Adani Road Transport Limited (ARTL), a wholly owned unit of Adani Enterprises, has signed a deal to acquire complete ownership of DP Jain TOT Toll Roads Private Limited. This ₹1,342 crore transaction marks a significant step in Adani’s infrastructure expansion strategy, further strengthening its presence in India’s road sector.

Adani Road Transport to Acquire Entire DP Jain Toll Portfolio

On September 11, 2025, Adani Road Transport Limited (ARTL), a wholly owned unit of Adani Enterprises, executed a Share Purchase Agreement to acquire a 100% stake in DP Jain TOT Toll Roads Private Limited. 

The transaction, valued at an enterprise value not exceeding ₹1,342 crore, is subject to customary closing conditions and regulatory approvals. The acquisition is from DP Jain TOT Toll Roads Pvt Ltd, DP Jain & Co Infrastructure Pvt Ltd, and DPJ-DRA Tollways Pvt Ltd.

Strategic Purpose Behind the Acquisition

This move aligns with Adani Enterprises' broader objective to consolidate its infrastructure and mobility verticals. By acquiring operational toll projects through the TOT (Toll-Operate-Transfer) model, ARTL enhances its road network portfolio and expects strengthened monetisation of existing assets. There was no prior shareholding in DPJTOT at the time of signing the agreement.

Significant Terms of the Agreement

The agreement outlines that ARTL will secure 100% ownership in DP Jain TOT. The valuation of ₹1,342 crore is based on the entity's enterprise value as of September 30, 2025. The transaction does not fall under related party agreements as ARTL holds no promoter group ties with the target companies. Moreover, there is no equity issuance involved in the transaction.

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Compliance and Regulatory Framework

The transaction was carried out in accordance with Regulation 30 under SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015. There are no amendments or terminations expected in the executed agreement as of now. The acquisition is expected to close upon obtaining requisite approvals and completing standard due diligence procedures.

Conclusion

Adani Enterprises, through ARTL, has taken a definitive step towards expanding its toll road operations by acquiring DP Jain TOT Toll Roads for ₹1,342 crore. This aligns with the group’s aim of enhancing mobility infrastructure across India’s transport sector. The transaction remains subject to final clearances.

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