DP Jain TOT Toll Roads Now Wholly-Owned by Adani Enterprises

Adani Enterprises Completes Full Acquisition of DP Jain TOT Toll Roads​

Mumbai, India – March 10, 2026 – Adani Enterprises Ltd announced that its wholly-owned subsidiary, Adani Road Transport Ltd (ARTL), has completed the acquisition of the remaining 49% equity stake in DP Jain TOT Toll Roads Pvt Ltd, along with 100% optionally convertible redeemable preference shares, according to a filing with stock exchanges.

The acquisition follows a previously signed share purchase agreement with D P Jain & Co Infrastructure Pvt Ltd and DPJ-DRA Tollways Pvt Ltd. ARTL had earlier acquired a 51% equity stake in February 2026. With the completion of this transaction on March 10, 2026, DP Jain TOT Toll Roads has become a wholly-owned subsidiary of Adani Road Transport.

The deal was executed at an enterprise value not exceeding ₹1,342 crore as of September 30, 2025, subject to closing adjustments, with the consideration paid entirely in cash.

Adani Enterprises highlighted that the acquisition aligns with its strategic objective to expand its presence in the road infrastructure development sector. The acquired company holds the concession for tolling, operation, maintenance, and transfer of the Palanpur–Radhanpur–Samkhayali stretch of NH-27 in Gujarat.

Incorporated in May 2021, DP Jain TOT Toll Roads reported a turnover of ₹122 crore in FY23, ₹143 crore in FY24, and ₹147 crore in FY25, the filing noted.

Shares of Adani Enterprises closed at ₹2,002 on the NSE on Tuesday, up ₹2.80 or 0.14% ahead of the announcement.