AdaniConneX Acquires Giridhari Build Estate for INR 367 Crore
Filing Summary
Adani Enterprises Ltd announced that its joint venture, AdaniConneX Private Limited, has acquired a 100% stake in Giridhari Build Estate Limited for a purchase consideration of INR 367 crore. The acquisition was completed on December 31, 2025. Giridhari Build Estate Limited, incorporated in 2019, is involved in infrastructure development activities but has not yet commenced commercial operations. The acquisition aims to establish infrastructure facilities. The transaction does not constitute a related party transaction. The acquisition was executed through cash consideration.
Adani Enterprises Ltd has informed that its joint venture, AdaniConneX Private Limited (ACX), has completed the acquisition of a 100% stake in Giridhari Build Estate Limited (GBEL) as of December 31, 2025. The acquisition was communicated to the company on the same day at 7:39 PM. This transaction is in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The acquisition involved a purchase consideration of INR 367 crore. The transaction was executed through cash consideration, with no share swap involved. The acquisition does not fall under related party transactions, and there is no interest from the promoter or promoter group in the entity being acquired. The acquisition was conducted at arm’s length.
Giridhari Build Estate Limited is engaged in infrastructure development activities. Although GBEL has not yet commenced commercial operations, it owns a significant land parcel and has secured key licenses necessary for infrastructure activities. This acquisition is intended to set up infrastructure facilities, aligning with the strategic objectives of AdaniConneX.
GBEL was incorporated on November 7, 2019, and is registered with the Registrar of Companies, Gujarat, at Ahmedabad. The company has not reported any turnover in the last three years as it is yet to begin commercial activities. The acquisition provides AdaniConneX with a head start in infrastructure development due to the land and licenses held by GBEL.
The acquisition was completed on December 31, 2025, with no further governmental or regulatory approvals required. The transaction was finalized through cash consideration, ensuring a straightforward acquisition process.
AdaniConneX Private Limited is a joint venture focused on developing data center infrastructure and related services. The partnership leverages the strengths of both Adani Enterprises and its partner to expand infrastructure capabilities in India.
Adani Enterprises Ltd is a diversified conglomerate with interests in multiple sectors, including energy, resources, logistics, agribusiness, and more. The company focuses on infrastructure development and aims to enhance its capabilities through strategic acquisitions and partnerships.