Adani Enterprises, the flagship company of the Adani Group, has finalised its Rs 2.31 billion acquisition of Trade Castle Tech Park (TCTPPL), an infrastructure developer holding significant land assets. The transaction was completed by AdaniConneX (ACX), the 50:50 joint venture between Adani Enterprises and global data centre operator EdgeConneX.

ACX entered into a share purchase agreement on 21 November 2025 with TCTPPL and its existing shareholders, Shree Naman Developers and Jayesh Shah, to acquire the entire stake in the company. In a regulatory filing on Tuesday, Adani Enterprises confirmed that the acquisition has now been completed, making TCTPPL a step-down joint venture of the firm.

The acquisition, intended for setting up new infrastructure facilities, strengthens ACX’s ability to fast-track development by leveraging TCTPPL’s land holdings and pre-secured regulatory licences. TCTPPL, incorporated on 16 October 2023 in Mumbai, has not yet begun commercial operations but has obtained key approvals that will support the quick launch of upcoming infrastructure projects.

AdaniConneX is spearheading the creation of a 1 GW pan-India data centre platform over the next decade. The joint venture currently operates facilities across Chennai, Navi Mumbai, Noida, Pune and Hyderabad, and is expanding its footprint to meet the rising demand for high-capacity, energy-efficient digital infrastructure.

Industry observers note that the acquisition of TCTPPL aligns with AdaniConneX’s strategy to secure strategically located land parcels early in the development cycle, enabling a smoother rollout of hyperscale and edge data centre campuses. The latest purchase is positioned to give ACX a head start as it builds out additional infrastructure to support India’s accelerating digital economy.

News source: Business Standard