--- title: "AdaniConneX paid ₹1,085.51 crore for a land-and-licence company with no turnover yet" summary: "What Adani Enterprises told the stock exchanges on 6 and 8 November about Vizag Mega Data Center Park: the price, the seller, what it holds, and what the filings leave out." url: https://www.thetechbag.com/blog/adaniconnex-1085-crore-company-no-turnover format: Note desk: "Cloud & DevOps" region: India published: 2026-11-09 facts_checked: 2026-11-09 author: TechBag (The TechBag Journal) tags: ["AdaniConneX","Adani Enterprises","Adani Infra","EdgeConneX","Vizag Mega Data Center Park","data centres","acquisition","share purchase agreement","SEBI LODR Regulation 30","related party transaction","land","India"] cover: https://www.thetechbag.com/blog/covers/adaniconnex-1085-crore-company-no-turnover.png --- # AdaniConneX paid ₹1,085.51 crore for a land-and-licence company with no turnover yet *What Adani Enterprises told the stock exchanges on 6 and 8 November about Vizag Mega Data Center Park: the price, the seller, what it holds, and what the filings leave out.* Note · Cloud & DevOps · By TechBag · Published 2026-11-09 · Facts checked 2026-11-09 · Canonical: https://www.thetechbag.com/blog/adaniconnex-1085-crore-company-no-turnover AdaniConneX, the data-centre joint venture of Adani Enterprises, has bought all of Vizag Mega Data Center Park Limited for ₹1,085.51 crore in cash, Adani Enterprises told the stock exchanges.[1] The purchase was complete by 8 November.[2] The company it bought was incorporated on 3 February 2026 and reports its turnover as nil, noting that it “is yet to commence commercial activities”.[1] What it holds, the filing says, is land and licences. ₹1,085.51 cr cash consideration for 100% of the shares Filing, 6 Nov Nil turnover; commercial activities not yet begun Filing, 6 Nov ₹1 lakh paid-up share capital, the same as its authorised capital Filing, 6 Nov 100% stake acquired by AdaniConneX Filings, 6 and 8 Nov ## What the filing says was bought In the filing’s words, the target “owns a sizeable land parcel and have secured key licenses to commence infrastructure activities, which would give a head start to ACX”. It gives the object of the deal as “to set up infrastructure facilities”, places the target in “Infrastructure development activities”, and answers “No” to whether any governmental or regulatory approval is required.[1] A share purchase is not a land purchase. AdaniConneX bought the company; the land and licences stay inside it, and only its owner changes. That is also why the two size fields in the disclosure say little about a company at this stage: turnover counts what it has sold, and paid-up capital counts what shareholders paid for its shares. Neither measures what it owns, and the filing gives no balance sheet.[1] Land is part of how the business describes itself. Adani Enterprises’ annual report for 2024-25 lists a “Pan India ready to deploy land bank” among the data-centre business’s edges and calls AdaniConneX “a 50:50 Joint Venture between the Adani Group and EdgeConneX”, the structure announced in February 2021.[3][4] ## The parties, as the filing states them The seller is Adani Infra (India) Limited. On whether the promoter group has an interest in the target, the filing makes three statements, which we set out in its order: “The acquisition by ACX is not a related party transaction for the Company, as per the provisions of SEBI LODR.” “The target entity is controlled, directly/ indirectly, by the promoter/ promoter group of the Company.” “The transaction has been done at arms’ length basis.”[1] The filing does not set out the reasoning behind the first statement or the basis for the third. **Figure: Incorporated on 3 February, sold under an agreement of 5 November, complete by 8 November** *Vizag Mega Data Center Park Limited, from Adani Enterprises' two filings, February to November 2026* | Date | Event | Detail | | --- | --- | --- | | 3 Feb 2026 | Incorporated | Registered with the Registrar of Companies, Gujarat at Ahmedabad | | 5 Nov 2026 | Agreement signed | AdaniConneX, the target and Adani Infra (India) Limited | | 6 Nov 2026 | Filed with exchanges | Adani Enterprises says it received the information at 11:49 AM | | 8 Nov 2026 | Completion reported | The target “has become joint venture of the Company” | | 10 Nov 2026 | Date given for completion | “Expected to be completed by” this date, in the 6 November filing | Source: Adani Enterprises Regulation 30 filings, BSE and NSE · as of 9 November 2026 ## What the filings do not say NoteNot disclosed in either filing How large the land parcel is, or where it is: “Vizag” appears only in the company’s name. Which licences it holds. How ₹1,085.51 crore was arrived at, and whether an independent valuer was used. What assets and debts the target carries, and how the land was paid for. How AdaniConneX funded the purchase. What will be built, for whom, and when. Those answers would have to come from Adani Enterprises or AdaniConneX. Until they do, the two filings are the whole public record we have read of this deal. How we did this Figures as of 9 November 2026, 7pm IST Every fact about the deal is from the two filings, quoted as filed. The filing states the price as INR 1085,51,42,595; ₹1,085.51 crore is the same figure. AdaniConneX’s ownership is as described in the 2021 launch release and the 2024-25 annual report; neither is a current statement of the split. We read no valuation report, and none is cited in the filings. We did not approach Adani Enterprises, AdaniConneX or Adani Infra. Spotted an error? Write to us; corrections are published at the foot of the piece. Sources 1. [Adani Enterprises, Intimation for signing Share Purchase Agreement, with Annexure 1 (Regulation 30), NSE](https://nsearchives.nseindia.com/corporate/nishant_joshi_adani_com_06112026121716_AELIntimationVizagMegaDataCenterParkLimited06112026.pdf) — 6 November 2026 2. [Adani Enterprises, Intimation of completion of acquisition of 100% stake in Vizag Mega Data Center Park Limited, NSE](https://nsearchives.nseindia.com/corporate/nishant_joshi_adani_com_08112026173159_AELIntimationofacquisitioncompletion08112026.pdf) — 8 November 2026 3. [Adani Enterprises and EdgeConneX, AdaniConneX, a new Data Center Joint Venture formed Between Adani Enterprises and EdgeConneX (release)](https://adanienterprises.com/newsroom/media-releases/AdaniConneX-a-new-Data-Center-Joint-Venture-formed-Between-Adani-Enterprises-and-EdgeConneX) — 23 February 2021 4. [Adani Enterprises, Annual Report 2024-25, Data Center section](https://connect.adani.com/annual_report/2025/ael/data-center.html) — FY 2024-25 **Disclosure.** TechBag is a software reseller: it earns a margin when a reader buys through it, including from vendors named here. The analysis is TechBag’s own; no vendor paid for or saw this piece before publication. Facts are labelled reported, TechBag count or our view. **Read this next:** [US$300bn pledged to India's data centres; subsidised GPUs reportedly 20% used](https://www.thetechbag.com/blog/india-ai-compute-pledges-gpu-use) — The money behind India's build-out: US$300bn of data-centre pledges, and subsidised GPUs reportedly about 20% used. Go deeper on TechBag - [India's large data centres run 90% full](https://www.thetechbag.com/blog/india-data-centres-90-percent-full-crisil) — Crisil's 3 November outlook for India's colocation market, to March 2030 - [ESDS's GPU lease](https://www.thetechbag.com/blog/esds-gpu-lease-4-5-times-revenue) — another Indian data-centre company's filing, read for what it commits to