Adani Enterprises Ltd (AEL) said on Thursday, August 4, that its business will purchase the India toll roads owned by Macquarie Asia Infrastructure Fund (MAIF) in Gujarat and Andhra Pradesh for Rs 3,110 crore.
AEL expressed in a very restrictive filing to the stock exchanges nowadays that the portfolio of 972 lane kilometers incorporates a protracted concession life with proved traffic in strategically positioned and vital traffic corridors in western and southern Bharat.
Adani Road Transport Ltd, a totally closely-held subsidiary of Adani Enterprises Ltd (AEL), has entered into a definitive agreement to accumulate Gujarat Road and Infrastructure Company Ltd, owned 56.8% by Macquarie Asia Infrastructure Fund, and Swarna Toll means non-public Ltd (STPL), closely-held 100% by Macquarie Asia Infrastructure Fund, it had been proclaimed. GRICL and STPL are each road and the main road comes in India.
About Adani group
The Ahmedabad-based Adani cluster could be an international conglomerate in the Asian country. Gautam Adani established a commodity trading company in 1988, with Adani Enterprises. Port management, electric power generation, and transmission, renewable energy, mining, airport operations, natural gas, food processing, and infrastructure are just a few of the Group’s numerous commercial ventures.
Adani Group crossed the US$100 billion market value threshold in April 2021, becoming the third Indian conglomerate to do so. After Tata Group and Reliance Industries, it became the third Indian conglomerate to exceed the $200 billion market cap level in April 2022. As of August 3, 2022, Adani Group’s market value was 224.87 billion dollars.
Listed Companies of Adani
Adani Enterprises is a holding company or incubator for the new business endeavours of the Adani Group and is primarily involved in the mining and selling of coal and iron ore on a stand-alone basis. Adani Wilmar (food processing), Adani Airport Holdings (airport operations), and Adani Road Transport are its main companies (road development). Adani Enterprises has business interests through its other companies in the production of solar PV modules, oil exploration, petrochemicals, water infrastructure, data centres, agri-output storage and distribution, rail and metro infrastructure, real estate, and financial services, and cement.
Adani Road Transport
Construction, operation, and maintenance of roads, highways, expressways, and tollways are all tasks that Adani Road Transport performs. Madhya Pradesh, Maharashtra, Odisha, Telangana, Andhra Pradesh, Chhattisgarh, Gujarat, Kerala, and West Bengal are states where the business has NHAI projects. It was awarded the contract for building 464 kilometre section of the 594-km-long Ganga Expressway in Uttar Pradesh in December 2021.
Adani Green Energy
The group’s subsidiary for renewable energy, Adani Green Energy, has a portfolio that has wind and solar power plants. With a total installed solar of 12.3 GW power, it is the largest solar power developer in the world.
Adani Ports & SEZ
With 10 ports and terminals, with its largest, Mundra Port, Adani Ports & SEZ (APSEZ) is India’s largest private port company and special economic zone. CEO of APSEZ Karan Adani is in charge of the business. Port management, logistics, and the SEZ are all operations of the corporation. The following ports are where the company conducts business: Dhamra, Odisha; Mundra, Dahej, and Hazira in Gujarat; Kattupalli, Tamil Nadu; and Vizhinjam in Kerala.
Established in August 1996, Adani Power. The corporation is the biggest private sector power generation company in the country, developing and maintaining power plants.
Adani Total Gas
Adani Total Gas is an Indian municipal gas distribution firm offering compressed natural gas stations and piped natural gas connections to both industrial and residential users. It is a partnership between the Indian oil and gas producer Adani Group and Total Energies of France. As of November 2020, Adani Total Gas has a presence as a stand-alone entity in 22 geographic areas (GAs). In addition, city gas distribution networks are run by Indian Oil-Adani Gas Pvt. Ltd.The largest city gas operator in India is Adani Total Gas, which has a combined presence of 41 GAs across 74 districts. The Adani Group recently signed a partnership with Snam, the top gas infrastructure firm in Europe, to shift the energy mix.
The owner of the Fortune brand of edible oils is Adani Wilmar, a joint venture between Adani Enterprises Ltd. and Wilmar International Limited. With soybean, sunflower, mustard, and rice bran oils, it boasts the broadest selection of edible oils. In India, the Fortune brand of oil commands a market share of about 20%.
On Tuesday (03-05-2022), Adani Wilmar Limited (AWL), one of India’s largest and fastest-growing packaged food FMCG firms, announced the purchase of the prestigious Kohinoor Brand – domestic (India region) from McCormick Switzerland GMBH for an undisclosed sum.
Adani Buying Gujarat and Andhra Toll
The 972 lane km portfolio has a long concession life with proven traffic in key traffic routes that are strategically placed in western and southern India.
The flagship of the billionaire Gautam Adani-owned Adani Group, AEL added: “Subject to regulatory approval, ARTL would purchase a 100% share in STPL and 56.8% of GRICL. This deal may be finalised in September 2022.”
According to the statement, the stake will be purchased at an enterprise value of Rs 3,110 crore.
In Andhra Pradesh, STPL owns two toll road segments: Tada to Nellore on NH-16, a 110 km stretch connecting important ports like Chennai and Krishnapatnam in Andhra Pradesh, and Nandigama to Ibrahimpatnam to Vijayawada on NH-65, a 48 km stretch connecting major southern metropolises.
Additionally, GRICL operates two toll roads in Gujarat: Ahmedabad to Mehsana on SH-41, a 51.6 km stretch with a predominance of passenger traffic connecting key corridors in northern Gujarat; and Vadodara to Halol on SH-87, a 31.7 km on Delhi Mumbai Industrial Corridor and close to a number of industries.
It says that after purchasing the share in GRICL, ARTL will purchase the IL&FS stake in GRICL.
“ARTL is committed to the Adani Group’s nation-building program with a portfolio of more than 5,000 lane kilometres of highway projects under development and operation,” stated Krishna Prakash Maheshwari, CEO of ARTL. One of the largest toll road asset portfolios, it has a competent staff, a record of success, and generates a lot of cash flow with little debt.
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