Adani Road Transport Acquires 100% Stake in DP Jain TOT : Adani Road Transport Limited, a subsidiary of Adani Enterprises, has announced that it will acquire a 100% stake in D P Jain TOT Toll Roads Private Limited for up to ₹1,342 crore. This acquisition adds another operational toll road to Adani’s portfolio and highlights the growing role of private companies in India’s road infrastructure under the Toll-Operate-Transfer (TOT) model.
Deal Highlights
- Acquirer: Adani Road Transport Limited (subsidiary of Adani Enterprises)
- Target Company: D P Jain TOT Toll Roads Pvt Ltd
- Stake Acquired: 100%
- Deal Value: ₹1,342 crore
- Business Model: Toll-Operate-Transfer (TOT)
This deal gives Adani full ownership and control over the operations, maintenance, and toll collection rights for the acquired highway project.
About D P Jain TOT Toll Roads
D P Jain TOT Toll Roads operates a key highway stretch under the TOT model.
- The project is part of National Highway-27 (Palanpur – Radhanpur – Samkhiyali section in Gujarat).
- It has a 20-year concession period, during which the operator can maintain the road and collect toll revenue.
- The project cost was estimated at around ₹1,480 crore.
- The financing was a mix of ₹1,180 crore debt and ₹300 crore promoter contribution.
This stretch is commercially important as NH-27 is a major east-west corridor carrying heavy passenger and freight traffic.
Why Adani Acquired This Project
The acquisition of DP Jain TOT Toll Roads fits into Adani’s larger plan of expanding its infrastructure business.
- Steady Cash Flow: TOT projects generate predictable toll revenue for many years.
- Portfolio Expansion: Adani already manages several road projects, and this deal strengthens its presence.
- Strategic Importance: The NH-27 section is critical for trade and logistics.
- Government Support: India’s asset monetisation programme by NHAI creates many opportunities for private investors.
What is the TOT Model?
The Toll-Operate-Transfer (TOT) model is a way for the government to monetise existing highways.
- NHAI builds and completes a highway project.
- Instead of operating it directly, NHAI auctions the rights to private players like Adani.
- The private company pays an upfront fee or acquisition cost.
- In return, it gets the right to operate, maintain, and collect tolls for 15–30 years.
- At the end of the concession period, the road goes back to NHAI.
This system helps the government generate immediate funds for new projects, while private companies benefit from stable long-term revenue.
Impact on Adani Group
Adani Enterprises is expanding rapidly across roads, airports, ports, and energy. By acquiring DP Jain TOT Toll Roads, the group will:
- Increase its toll road portfolio.
- Strengthen revenue from highways.
- Secure long-term cash flow.
- Build a stronger position in India’s infrastructure sector.
This acquisition shows Adani’s commitment to becoming one of the leading private players in road development and operations.
Impact on India’s Highway Sector
This deal also reflects the wider trend in India’s infrastructure space.
- Government Monetisation: NHAI is leasing out operational highways to raise funds.
- Investor Confidence: Adani’s move highlights strong faith in India’s traffic growth and toll revenues.
- Better Road Quality: Private players usually ensure better upkeep and management of roads.
- Boost to Economy: Well-maintained highways improve logistics, cut travel time, and support trade growth.
Source: Economic Times
Key Benefits of the Deal
- For Adani: Guaranteed toll revenue and portfolio expansion.
- For NHAI/Government: Funds to build more highways.
- For Travellers: Better-maintained highways and improved road experience.
Future Outlook
India has one of the world’s largest road networks, and NHAI plans to auction many more highway stretches under the TOT model in the coming years. With Adani’s growing interest and aggressive expansion, more acquisitions can be expected in the future.
For investors, deals like this highlight the growth potential of the infrastructure sector. For the public, it promises better connectivity and faster travel across states.
Conclusion
The acquisition of a 100% stake in DP Jain TOT Toll Roads for ₹1,342 crore is another milestone for Adani Road Transport. It strengthens Adani’s toll road portfolio, supports the government’s highway monetisation programme, and ensures better infrastructure for travellers. As India continues to expand its road network, such deals will play a big role in the nation’s economic and transport growth.
