Adani buys PATH Highways for ₹91.34 crore to deepen road bet

What's the deal? Adani EnterprisesDealroom has a profile for this one. Try Dealroom → has acquired a 100% stake in Path Highways LLPDealroom has a profile for this one. Try Dealroom → (PATH) for ₹91.34 crore, subject to closing adjustments. The deal ran through two wholly owned subsidiaries, Adani Road Transport LimitedDealroom has a profile for this one. Try Dealroom → (ARTL) and its step-down subsidiary Adani Road GRICL LimitedDealroom has a profile for this one. Try Dealroom →.

How it's structured: ARTL and Adani Road GRICL bought 99.99% and 0.01% of PATH from Prakash Asphalting and Tolls Highway (India) LimitedDealroom has a profile for this one. Try Dealroom → and Neeti Agarwal, respectively.

What changes: Before the deal, ARTL and PATH jointly held a 74% stake in Mancherial Repallewada Road LimitedDealroom has a profile for this one. Try Dealroom →, Suryapet Khammam Road LimitedDealroom has a profile for this one. Try Dealroom →, and Bilaspur Pathrapali Road Limited. After it, ARTL will hold 99.99% in these three entities.

What's the endgame? PATH, incorporated in December 2018, is an investment holding vehicle for road infrastructure assets. The purchase extends Adani Enterprises' push into road infrastructure development, which it sees as a key growth area for India's connectivity and logistics network.

The signal: The buyout consolidates ownership across three road projects under one Adani subsidiary — a small but telling step in the group's broader move to control more of India's highway infrastructure directly.

Read more: investywise.com

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