M&A

M&A

Adani Group arm to buy toll DP Jain Group’s toll roads operator for Rs.1,342-Cr

Economic Times  

Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has agreed to acquire a 100% stake in DP Jain TOT Toll Roads Pvt Ltd (DPJTOT) for an enterprise value of INR 1,342 crore.The transaction entails Adani acquiring the stake from DPJTOT, D P Jain & Co Infrastructure Pvt Ltd, and DPJDRA Tollways Pvt Ltd.DP Jain and Co Infrastructure and DPJ-DRA Tollways are subsidiaries of Nagpur-based DP Jain Group, founded in 1975. DPJTOT was incorporated in 2021 to run operations on the NH-27 highway bundle in Gujarat.ARTL is currently undertaking three major hybrid-annuity mode (HAM) model projects in Chhattisgarh and Telangana and the Ganga Expressway project in Uttar Pradesh. As of June 30, the company posted a 90% completion update of its HAM model projects, while the expressway was reported as 85% complete.