Adani group JV firm acquires Trade Castle Tech Park for ₹231 crore

An Adani group joint venture company has acquired infrastructure developer Trade Castle Tech Park, which owns sizeable land parcels, for Rs 231.34 crore.

AdaniConneX (ACX), a joint venture of Adani group flagship firm Adani Enterprises Ltd (AEL) and data centre operator EdgeConneX, has executed a share purchase agreement (SPA) on November 21, 2025, with Trade Castle Tech Park (TCTPPL) and Shree Naman Developers and Jayesh Shah (existing shareholders of TCTPPL) to acquire 100 per cent stake in TCTPPL, AEL said in a stock exchange filing.

"The object of acquisition is to set up infrastructure facilities," it said without elaborating. "The acquisition is expected to be completed by the end of November 25, 2025."  The purchase consideration for the acquisition is Rs 231.34 crore, AEL said.

"TCTPPL is incorporated in India and registered with the Registrar of Companies, Maharashtra, Mumbai, on October 16, 2023, with an object for carrying out infrastructure development activities. While TCTPPL is yet to commence commercial activities, it owns a sizable land parcel and has secured key licenses to commence infrastructure activities, which would give a head start to ACX," it said.

AdaniConneX is a 50:50 joint venture of Adani Group and EdgeConneX, established to develop a 1 GW national data centre platform over the next decade. The company operates data centres across Chennai, Navi Mumbai, Noida, Pune and Hyderabad.