Adani Subsidiaries Acquire 100% Stake in Path Highway LLP for INR 91.34 Crore
Adani Road Transport Limited (ARTL) and its affiliated entity, Adani Road GRICL Limited, have completed the acquisition of a significant stake in Path Highway LLP (PATH). The transaction saw ARTL acquire 99.99% of the shares while GRICL acquired the remaining 0.01% from Prakash Asphalting and Tolls Highway (India) Limited and Mrs. Neeti Agarwal.The move underscores Adani Enterprises Limited's commitment to expanding its presence within the road infrastructure development industry.
Path Highway LLP, which functions as an investment holding vehicle in road infrastructure assets, is in the Roads Infrastructure sector. The acquisition of PATH falls directly in line with the Company's strategy to increase its footprint in this domain.
The purchase price for the 100% capital contribution/profit sharing ratio was INR 91.34 crore and was settled through cash consideration. PATH itself was incorporated on December 13, 2018, under the Limited Liability Partnership Act, 2008.
Impact on Existing Holdings
Prior to this acquisition, ARTL and Path Highway LLP held respective stakes in three companies: Mancherial Repallewada Road Limited (MRRL), Suryapet Khammam Road Limited (SKRL), and Bilaspur Pathrapali Road Limited (BPRL). These holdings were structured at a 74%:25.99% ratio between ARTL and PATH.Following the recent acquisition of PATH, ARTL will now hold the entire 99.99% shareholding in all three companies: MRRL, SKRL, and BPRL.
Transaction Summary
The following table summarizes the key details of the completed transaction:| Aspect | Detail |
|---|---|
| Target Entity | Path Highway LLP (PATH) |
| Industry | Roads - Infrastructure |
| Acquiring Entities | Adani Road Transport Limited and Adani Road GRICL Limited |
| Total Consideration | INR 91.34 crore (subject to closing adjustments) |
| Consideration Type | Cash |
| Percentage Acquired by ARTL | 99.99% |
| Acquisition Status | Completed |
ADANIENT Stock Price Movement
Shares of Adani Enterprises Limited today slipped by 0.70% to settle at ₹2964.9 after a volatile trading day. The stock saw activity across a range spanning from a low of ₹2932.8 to a high of ₹3019.5 and recorded a volume of 1.30 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.