Adani Enterprises has completed the full acquisition of D P Jain TOT Toll Roads Private Limited (DPJ TOT) through its wholly owned subsidiary Adani Road Transport Limited (ARTL). The company announced on March 10, 2026, that ARTL has successfully acquired the remaining 49% equity share capital and 100% optionally convertible redeemable preference shares of DPJ TOT, making it a wholly owned subsidiary.

Acquisition Timeline and Structure

The acquisition was completed in phases, with ARTL initially acquiring 51% of DPJ TOT's equity share capital in February 2026, followed by the remaining 49% stake completion on March 10, 2026. The transaction was executed under a share purchase agreement originally signed on September 12, 2025. The intimation of completion was received by the company on March 10, 2026 at 2:38 PM (IST).

Target Company Profile

DPJ TOT, incorporated on May 6, 2021, operates under the roads and infrastructure sector. The company holds the concession agreement for tolling, operation, maintenance and transfer of the Palanpur-Radhanpur-Samkhayali section (KM 536+000 to KM 430+000) of NH-27 in Gujarat.

Strategic Impact and Regulatory Compliance

The acquisition aligns with Adani Enterprises' strategy to expand its footprint in the road infrastructure development industry. With DPJ TOT now becoming a wholly owned subsidiary of ARTL, the Adani Group strengthens its position in the toll road operations sector. The transaction was conducted at arm's length and all requisite regulatory approvals have been received for the completion of this acquisition. The company has formally notified BSE Limited and National Stock Exchange of India Limited about the completion under Regulation 30 of SEBI Listing Regulations.

Adani Enterprises Limited has issued a correction to its earlier regulatory disclosure regarding a Share Purchase Agreement executed by its wholly owned subsidiary. The company has clarified that the agreement date between Adani Defence Systems & Technologies Ltd (ADSTL) and Punj Lloyd Aviation Ltd (PLAL) was February 28, 2026, not March 1, 2026 as previously stated.

Transaction Correction Details

The correction was communicated to stock exchanges on March 2, 2026, through a formal regulatory filing. The company referenced its original intimation dated March 1, 2026, which contained the incorrect execution date for the Share Purchase Agreement.

Regulatory Compliance Framework

The correction disclosure has been made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to both BSE and NSE to ensure accurate record-keeping across all trading platforms.

Corporate Structure Context

This correction pertains to ADSTL's strategic transaction with Punj Lloyd Aviation Ltd, representing the subsidiary's continued expansion in the defence sector. As a wholly owned subsidiary of Adani Enterprises, ADSTL's agreements require proper disclosure under regulatory frameworks to maintain transparency with stakeholders and stock exchange compliance.

The prompt correction demonstrates Adani Enterprises' commitment to accurate regulatory reporting and maintaining proper disclosure standards. The company has requested stock exchanges to update their records with the corrected information to ensure all documentation reflects the accurate transaction timeline.