Adani Enterprises’ JV acquires 100% stake of Granthik Realtors
The object of acquisition is for the development of various infrastructure facilities
Adani Enterprises’ joint venture (JV) company -- AdaniConneX (ACX) has completed the acquisition of 100% stake of Granthik Realtors (GRPL) from Windson Projects LLP (WP) and its Nominees by execution of share purchase agreement (SPA). The object of acquisition is for the development of various infrastructure facilities. The acquisition is done at a purchase consideration of Rs 85.99 crore.
While GRPL is yet to commence commercial activities, it owns a sizeable land parcel and have secured key licenses to commence infrastructure activities, which would give a head start to ACX.
Adani Enterprises (AEL), the flagship company of the Adani Group, is one of India’s largest business organisations. The company has enhanced value for stakeholders by building prominent infrastructure assets and widening its presence across a range of sectors directed towards responsible nation-building.
