Adani Enterprises completes Rs 231.34 crore acquisition of Trade Castle Tech Park

Adani Enterprises Completes Acquisition of Trade Castle Tech Park for Rs 231.34 Crore

Adani Enterprises Ltd has announced the completion of its acquisition of Trade Castle Tech Park (TCTPPL), a prominent infrastructure developer in India.

About Trade Castle Tech Park

Trade Castle Tech Park Pvt Ltd is an Indian company incorporated on October 16, 2023, and registered with the Registrar of Companies, Maharashtra, at Mumbai. The company's primary objective is to undertake infrastructure development activities.

• TCTPPL owns a substantial land parcel, providing a solid foundation for future development.
• The company has secured key licenses to commence infrastructure activities, giving AdaniConneX a head start.

AdaniConneX and the Acquisition

AdaniConneX Pvt Ltd, a 50:50 joint venture of Adani Group and EdgeConneX, has completed the acquisition of a 100 per cent stake in TCTPPL. This acquisition is a significant step towards developing a 1 GW national data centre platform over the next decade.

• AdaniConneX operates data centres across key locations in India, including Chennai, Navi Mumbai, Noida, Pune, and Hyderabad.
• The company aims to leverage TCTPPL's land parcel and existing licenses to accelerate its data centre development plans.

Financial Details of the Acquisition

The acquisition was completed for a total consideration of Rs 231.34 crore. The deal was executed through a share purchase agreement between AdaniConneX and the existing shareholders of TCTPPL, Shree Naman Developers and Jayesh Shah.

Key Takeaways:

• Adani Enterprises Ltd has completed the acquisition of Trade Castle Tech Park Pvt Ltd for Rs 231.34 crore.
• AdaniConneX, a joint venture of Adani Group and EdgeConneX, has acquired a 100 per cent stake in TCTPPL.
• The acquisition is expected to accelerate AdaniConneX's data centre development plans in India.