According to reports from CNBC TV18, AdaniConneX Private Ltd, a joint venture of Adani Enterprises, has completed the acquisition of 100% equity stake in Madhuvanti Build Estate Ltd (MBEL) for a cash consideration of ₹765.25 crore. The transaction was executed on Thursday (June 11) and has been completed without requiring any governmental or regulatory approvals. As reported by CNBC TV18, the acquisition provides AdaniConneX Private with a head start in infrastructure development activities.
As reported by CNBC TV18, Madhuvanti Build Estate Ltd has an authorised and paid-up share capital of ₹10,000 each and has not yet commenced commercial operations. The company reported nil turnover and was incorporated in India on November 11, 2019, with registration in Ahmedabad, Gujarat. According to the filing, the company operates in infrastructure development activities and owns a sizeable land parcel while having secured key licenses required to commence infrastructure operations.
According to the filing reported by CNBC TV18, the acquisition by AdaniConneX Private does not fall under related party transactions for Adani Enterprises Ltd. However, Madhuvanti Build Estate Ltd is controlled, directly or indirectly, by the promoter or promoter group, and the transaction has been undertaken at arm's length. The transaction has been executed in cash and has been completed without requiring any regulatory approvals.
As reported by CNBC TV18, Adani Enterprises reported a net loss of ₹220.7 crore for the fourth quarter, compared with a profit of ₹3,844.9 crore in the year-ago period. Revenue for the quarter stood at ₹32,439.3 crore, up from ₹26,965.9 crore in the corresponding period last year. EBITDA rose 0.6% to ₹3,731 crore in the quarter, compared with ₹3,710 crore a year earlier, with EBITDA margin narrowing to 11.5% from 13.8% in the year-ago quarter.
According to CNBC TV18, shares of Adani Enterprises Ltd ended at ₹2,914.60, down by ₹15.45, or 0.53%, on the BSE. The company reported consolidated financial results for FY26, with total income rising 3% year-on-year to ₹1,02,943 crore. EBITDA remained steady at ₹16,464 crore during the period, while profit before tax stood at ₹4,309 crore, excluding an exceptional gain of ₹9,215 crore arising from the sale of AWL stake and cement units to Ambuja Cements Ltd.
