Acquisition Details
On 13th August, 2026 at 12:58 PM, Adani Enterprises Limited received intimation that its wholly owned subsidiary Adani Road Transport Limited (ARTL) and Adani Road GRICL Limited (GRICL, a step-down subsidiary and wholly owned subsidiary of ARTL) have acquired:
- ARTL: 99.99% stake in Path Highway LLP (PATH)
- GRICL: 0.01% stake in Path Highway LLP (PATH)
The acquisition was made from Prakash Asphalting and Tolls Highway (India) Limited (Seller 1) and Mrs. Neeti Agarwal (Seller 2).
Consideration and Terms
The acquisition was completed for a cash consideration of INR 91.34 crore, subject to closing adjustments.
Shareholding Impact
Prior to this acquisition, ARTL and PATH held 74%:25.99% stake respectively in three road project companies:
- Mancherial Repallewada Road Limited (MRRL)
- Suryapet Khammam Road Limited (SKRL)
- Bilaspur Pathrapali Road Limited (BPRL)
Consequent to the acquisition, ARTL will hold 99.99% shareholding in MRRL, SKRL, and BPRL.
Target Entity Details
Path Highways LLP (PATH)
- Industry: Roads - Infrastructure
- Incorporation: Incorporated on December 13, 2018 under the Limited Liability Partnership Act, 2008
- Registration: Registered with the Registrar of Companies, Gwalior
- Business: Functions as an investment holding vehicle in road infrastructure assets
- Acquisition of: 100% of capital contribution/profit sharing ratio
Transaction Characteristics
- Related Party Status: The promoter/promoter group does not have any interest in the transaction. Prior to acquisition, PATH was holding 25.99% stake in MRRL, SKRL and BPRL and hence was their related party.
- Arm's Length: The transaction was conducted at arm's length basis
- Government Approvals: No governmental or regulatory approvals required for the acquisition
- Completion Status: Acquisition has been completed
Strategic Rationale
The acquisition is in line with the Company's strategy to increase its footprint in the road infrastructure development industry.