Mumbai: Adani’s data centre arm, AdaniConneX (ACX), a joint venture between Adani Enterprises and EdgeConneX, is all set to acquire 100% of Trade Castle Tech Park Pvt Ltd (TCTPPL) for ₹231.34 crore. The acquisition of this unlisted company is aimed at expanding AdaniConnX’s portfolio of data centres, considering the ever-increasing data centre demand in India.
According to a declaration to the NSE, Adani will take 100% of the equity in this company, which has zero revenue but holds a sizeable land parcel, along with key infrastructure licenses.
The Adani Group, led by Gautam Adani, has been expanding its business at a breakneck speed, snapping up companies in various infrastructure-led industries to expand its business across the infrastructure space. The company has been active in various domains, including solar PV manufacturing, defence and aerospace, mining, real estate, mass media and others, with a combined market cap of about $35 billion.
The company has decided to focus on its capital-intensive infrastructure businesses, while it has decided to exit one of its oldest businesses in the FMCG sector- Adani Wilmar Limited (now known as AWL Agri Business Ltd). On November 21, the company sold its last remaining stake, about 7% in AWL Agri Business, marking its exit from the company known for its edible cooking oil and other household staples under the Fortune brand.
