Key Transaction Details
- AdaniConneX Private Limited (ACX), a joint venture of Adani Enterprises Limited, acquired 100% equity stake in Chandenvalle Infra Park Limited (CIPL) from Adani Power Limited (Seller).
- The transaction was completed on August 27, 2026, with information received by the company at 5:15 PM on that date.
- Purchase consideration: ₹535.69 crores paid in cash against shares.
- CIPL's capital structure: Authorized Share Capital - ₹1,00,000; Paid-up Share Capital - ₹1,00,000.
- CIPL has nil turnover as it is yet to commence commercial activities.
Transaction Characteristics
- Not a related party transaction for Adani Enterprises Limited as per SEBI LODR provisions.
- CIPL is controlled directly/indirectly by the promoter/promoter group of Adani Enterprises Limited.
- Transaction conducted at arm's length basis.
- No governmental or regulatory approvals required for the acquisition.
Target Company Background
- CIPL was incorporated on February 24, 2022, registered with the Registrar of Companies, Gujarat at Ahmedabad.
- Industry: Infrastructure development activities.
- Business objective: Carrying out infrastructure development activities.
- While yet to commence commercial operations, CIPL owns a sizeable land parcel and has secured key licenses to commence infrastructure activities.
Acquisition Purpose
The object of acquisition is to set up data center infrastructure facilities by ACX. The acquisition provides ACX with a head start due to CIPL's existing land parcel and secured licenses.