Cyril Amarchand Mangaldas advised Adani Road Transport, a wholly owned subsidiary of Adani Enterprises L, on its acquisition of a 100 percent stake in D P Jain TOT Toll Roads from D P Jain and Co. Infrastructure Private Limited and DPJ-DRA Tollways Private Limited for an enterprise value of INR 1,342 crore.

The transaction involves the acquisition of D P Jain TOT Toll Roads Private Limited, which operates the Palanpur-Radhanpur-Samakhayali section of National Highway-27 from KM 536+000 to KM 430+100 in Gujarat under a Toll-Operate-Transfer (TOT) model. The strategic acquisition expands Adani’s infrastructure portfolio in the critical highway sector as the conglomerate continues to strengthen its presence in India’s transportation infrastructure.

The acquisition underscores Adani’s strategic focus on expanding its infrastructure footprint across India’s highway network, particularly in Gujarat where the group maintains significant operational presence across multiple sectors.

The transaction was led by partner Paridhi Adani (head – Ahmedabad) and partner Jay Parikh, with support from principal associates Akshay Zaveri and Ayushi Toshniwal, senior associate Saranya Lal, and associates Yashaanki Kora, Pauravi Kolhe and Mehar Arora. Partner Siddharth Singh assisted in real estate due diligence and documentation related aspects of the transaction, supported by associates Rushi Panchal and Sarthak Vora. Competition analysis was handled by partner Dhruv Rajain, with support from senior associate Rajat Sharma and associate Ridhima Sethi. Project and project finance related aspects were managed by partner Aniket Singhania, supported by senior associate Stuti Mishra and associates Jagrati Maru and Harsh Jain.