Adani Enterprises Limited has incorporated a wholly owned subsidiary named CORR Tollways Limited on March 9, 2026, marking the company's strategic expansion into Chennai's road infrastructure sector. The incorporation was confirmed on March 9, 2026 at 12:49 PM, with the company promptly notifying BSE Limited and National Stock Exchange of India Limited under regulatory compliance requirements.

Subsidiary Details and Structure

CORR Tollways Limited has been established as a wholly owned subsidiary of Adani Enterprises Limited, operating in the road infrastructure industry. The subsidiary's incorporation follows regulatory requirements under Regulation 30 of SEBI Listing Regulations and SEBI Circular guidelines.

Business Operations and Scope

The newly incorporated subsidiary will engage in comprehensive road infrastructure operations for the Chennai Outer Ring Road project. CTL's business mandate encompasses tolling, operations and maintenance activities for two critical phases of the Chennai Outer Ring Road development.

The subsidiary's operational scope includes:

• Phase I Operations: Vandalur to Nemilichery corridor management
• Phase II Operations: Nemilichery to Minjur in TPP Road corridor
• Infrastructure Management: All associated facilities and infrastructure operations
• Regulatory Compliance: Operations under concession, license or authorization from Tamil Nadu State Highways Authority (TANSHA)

Financial Structure and Investment

CORR Tollways Limited has been incorporated with a structured capital framework designed to support its road infrastructure operations. The financial arrangement reflects a straightforward equity-based structure with cash consideration.

Regulatory Compliance and Approvals

The incorporation process did not require specific governmental or regulatory approvals beyond standard incorporation procedures. The subsidiary operates under the authorization framework established by the Tamil Nadu State Highways Authority for the Chennai Outer Ring Road project, ensuring compliance with state-level infrastructure development regulations.

This strategic incorporation strengthens Adani Enterprises Limited's presence in India's road infrastructure sector, particularly in Tamil Nadu's transportation network development. The subsidiary structure enables focused management of the Chennai Outer Ring Road operations while maintaining direct control through complete ownership by the parent company.

Adani Enterprises Limited has issued a correction notice to stock exchanges regarding the execution date of a Share Purchase Agreement involving its defense subsidiary. The clarification was submitted to both BSE Limited and National Stock Exchange of India Limited on March 2, 2026.

Agreement Details and Correction

The correction pertains to a Share Purchase Agreement between Adani Defence Systems & Technologies Ltd (ADSTL), a wholly owned subsidiary of Adani Enterprises Limited, and Punj Lloyd Aviation Ltd (PLAL). The company has clarified that the actual execution date should be February 28, 2026, instead of the previously communicated date of March 1, 2026.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events and corporate developments that could impact investor decisions.

The correction notice was signed by Jatin Jalundhwala, Company Secretary & Joint President (Legal), with membership number F3064. The document was digitally signed on March 2, 2026, at 15:38:41 +05'30'.

Company Information

Adani Enterprises Limited operates from its corporate headquarters at "Adani Corporate House" in Shantigram, Ahmedabad, Gujarat. The company maintains transparency in its corporate communications and ensures timely disclosure of material information to stakeholders and regulatory authorities.