AdaniConneX Acquires Madhuvanti Build Estate for ₹765.25 Cr

Adani Enterprises Limited announced that its joint venture, AdaniConneX Private Limited (ACX), has acquired 100% equity stake in Madhuvanti Build Estate Limited (MBEL) from Adani Infra (India) Limited for a cash consideration of ₹765.25 crores. MBEL, incorporated in November 2019, is involved in infrastructure development activities and owns a significant land parcel with key licenses, though it has yet to commence commercial operations. This acquisition is intended to facilitate the setup of infrastructure facilities by ACX. The transaction is considered an arm's length deal and is not a related party transaction for Adani Enterprises Limited, although the target entity is indirectly controlled by the promoter group.