5 days ago
AdaniConneX Buys Adani Power Unit for Data Centre Expansion
AdaniConneX is a company that builds data centres.
It bought another company called Chandenvalle Infra Park from Adani Power.
The price was Rs 535.69 crore, paid in cash.
Chandenvalle Infra Park has land and licenses that can be used to build data centres.
The company was incorporated in Gujarat in February 2022.
It had not started commercial operations or reported turnover.
AdaniConneX believes buying these assets will help it build data centres faster across India.
Adani Enterprises said the deal was made on normal commercial terms and was not a related-party transaction under SEBI rules.
AdaniConneX acquired 100% of Chandenvalle Infra Park from Adani Power for Rs 535.69 crore.
The transaction was paid entirely in cash against shares, with no share-swap arrangement.
Chandenvalle Infra Park owns land and key licenses intended for data centre infrastructure development in Gujarat.
AdaniConneX plans to use the assets to accelerate its data centre capacity expansion across India.
Adani Enterprises said the deal was conducted at arm’s length and does not qualify as a related-party transaction under SEBI listing rules.
- Who
- AdaniConneX acquired Chandenvalle Infra Park from Adani Power; Adani Enterprises disclosed the transaction.
- What
- The acquisition of 100% equity in Chandenvalle Infra Park for Rs 535.69 crore.
- Where
- Gujarat, India, where Chandenvalle Infra Park holds land and licenses.
- When
- The transaction was disclosed on August 28.
- Why
- To accelerate AdaniConneX’s development of data centre infrastructure and capacity across India.
Key facts
- Acquirer
- AdaniConneX
- Acquired company
- Chandenvalle Infra Park
- Seller
- Adani Power
- Acquisition value
- Rs 535.69 crore
- Payment method
- Cash against shares; no share swap
- Assets acquired
- Land and key licenses for data centre development
- Transaction status
- The company said it was conducted at arm’s length and was not a related-party transaction under SEBI listing rules
Sources
Related news
Andhra Pradesh Approves Adani Data Centre Land Lease Changes
Kamath, Vanga Invest ₹250 Crore in CtrlS Expansion
Anant Raj, Lodha Tap Data Centre Boom as Growth Engine
ED Raids 12 Locations Across Four States in Parimatch Probe
Gujarat Seizes 42.9 Tonnes Adulterated Food, Cancels Drug Licences
Gujarat Emergency Services Mark 19 Years Of Life-Saving Response
Air India Express Unveils Textile-Inspired Uniforms Across Network
Faridabad Class 11 Student Dies After Third-Floor Fall; Investigation Underway
