AdaniConneX Acquires 100% Stake in Madhuvanti Build Estate Limited for Infrastructure Projects
AdaniConneX Private Limited, a joint venture of Adani Enterprises Limited, has completed the acquisition of a 100% equity stake in Madhuvanti Build Estate Limited (MBEL). The target company was acquired from Adani Infra (India) Limited.The transaction was completed with a cash consideration amounting to INR 765.25 crores. ACX acquired full control of MBEL, which is poised to support the development of infrastructure facilities.
Details of the acquisition and the acquired entity are summarized below:
| Particulars | Details |
|---|---|
| Target Entity | Madhuvanti Build Estate Limited (MBEL) |
| Industry | Infrastructure development activities |
| Acquisition Type | 100% equity stake |
| Consideration | INR 765.25 crores (Cash consideration against shares) |
| Target Status | Yet to commence commercial activities |
MBEL, which was incorporated in India and registered with the Registrar of Companies, Gujarat on November 11, 2019, is focused on infrastructure development. The company possesses a sizeable land parcel and has secured key licenses necessary for commencing infrastructure activities, providing an advantage to ACX in its venture.
The objective of this acquisition by AdaniConneX Private Limited is to set up essential infrastructure facilities, leveraging MBEL's prepared status within the sector.
LAMOSAIC Stock Price Movement
Today, Lamosaic India Limited shares edged higher as the market closed, settling at ₹29.00 after gaining 2.84%. The stock traded with a volume of 600 shares during today's session.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.