Adani Road Transport Limited (ARTL), a subsidiary of the Adani Group, has entered into definitive agreements to acquire 100% equity stake in Yashodhan Highways Private Limited and KN Highways Development Private Limited from DRN Infrastructure Private Limited.
This strategic acquisition strengthens ARTL’s road infrastructure portfolio across Tamil Nadu and Karnataka, enhancing its position as one of India’s leading developers and operators of highways and expressways.
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Cyril Amarchand Mangaldas (CAM) acted as the legal counsel to Adani Road Transport Limited on this transaction, advising on structuring, due diligence, definitive documentation, and regulatory aspects.
Transaction Team
Paridhi Adani, Partner (Head – Ahmedabad)
Jay Parikh, Partner
Akshay Zaveri, Principal Associate
Ayushi Toshniwal, Principal Associate
Yashaanki Kora, Associate
Pauravi Kolhe, Associate
Mehar Arora, Associate
Due Diligence Team
Jay Parikh, Partner
Aniket Singhania, Partner
Akshay Zaveri, Principal Associate
Stuti Mishra, Senior Associate
Yashaanki Kora, Associate
Pauravi Kolhe, Associate
Mehar Arora, Associate
Varsha Agarwal, Associate
Jagrati Maru, Associate
Devanshi Soni, Associate
Harsh Jain, Associate
Shreyansh Anchalia, Associate
Projects Team
Aniket Singhania, Partner
Stuti Mishra, Senior Associate
Jagrati Maru, Associate
Devanshi Soni, Associate
Harsh Jain, Associate
Shreyansh Anchalia, Associate
About the involved parties
Yashodhan Highways Private Limited
Holds the concession to develop NH-83 from Kamalapuram to Oddanchatram (km 0.000 to km 35.822) — a 36.5 km stretch in Tamil Nadu on a Hybrid Annuity Model (HAM) basis.
KN Highways Development Private Limited
Holds multiple concessions to develop and operate roads in Karnataka under DBFOT (Design-Build-Finance-Operate-Transfer) and HAM models, including:
SH-79: Kollegal to Hannur (length 23.8 km)
SH-82: Chintamani to Andhra Pradesh border (length 39.8 km)
SH-85 & MDR: Bengaluru to Magadi and further to NH-75 via Chikkamudigere and Lyandahalli (length 50.7 km)
Strategic Significance
This acquisition enhances Adani Road Transport’s existing portfolio of national and state highway projects across India. It aligns with the company’s strategy to expand into southern states through a mix of HAM and DBFOT models, increasing toll revenue potential and operational footprint.
The acquisition also marks another milestone in Adani’s infrastructure expansion drive, bolstering its presence across energy, logistics, and transport sectors.
Why It Matters
Strengthens Adani Group’s position as a major player in India’s road infrastructure and transport development.
Reflects continued investor and developer confidence in the public-private partnership (PPP) model for highways.
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Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions
