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Adani Enterprises JV AdaniConneX Buys Madhuvanti Build Estate for INR7.65 Billion

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AdaniConneX, a joint venture company of Adani Enterprises (NSE:ADANIENT, BOM:512599), has acquired a 100% equity stake in Madhuvanti Build Estate, according to a Thursday filing with Indian stock exchanges.

The shareholding in the infrastructure developer has been acquired from Adani Infra (India) for 7.65 billion Indian rupees.

Madhuvanti owns a land parcel and has secured key licenses to commence infrastructure activities, which would give AdaniConneX a head start, the company said. Madhuvanti has not yet commenced commercial operations.

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