AdaniConneX, a joint venture between Adani Enterprises Limited and EdgeConneX, has acquired a 100% stake in Madhuvanti Build Estate Limited, a company incorporated to undertake infrastructure operations, for a consideration of ₹765.25 crore.
Khaitan & Co advised AdaniConneX on this acquisition. The firm conducted a comprehensive due diligence on Madhuvanti Build Estate and drafted the share purchase agreement for acquiring 100% shareholding.
The transaction team consisted of Ashraya Rao (Partner), Unnita Bhattacharya (Principal Associate), Alankrita Singh (Senior Associate) and Palak Sheth (Associate).
Devendra Deshmukh (Partner), Rahul Sunil Agarwal (Principal Associate) and Sanket Wakshe (Associate) assisted on real estate aspects.
Madhuvanti Build Estate specializes in infrastructure development activities. The company possesses a substantial landholding and has obtained essential licenses to initiate infrastructure operations. These assets and approvals will give AdaniConneX a significant advantage as it begins its operations.
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