Adani Logistics Ltd, a wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd, has formally ended its joint venture with Riddhi Infocom Solutions LLP through the sale of its 49% stake in Veracity Supply Chain Ltd. This move marks a key strategic development for Adani Logistics and its portfolio of transport and supply chain services.
On June 20, 2025, Adani Logistics Ltd executed a Joint Venture Termination Agreement with Riddhi Infocom Solutions LLP. This agreement led to the complete divestment of its 49% stake in Veracity Supply Chain Ltd. The agreement was finalised and completed on the same day.
The transaction consideration received by Adani Logistics for the divested stake was ₹4.90 lakhs. Following the divestment, Adani Logistics retains a nominal 1% stake in Veracity Supply Chain Ltd.
Veracity Supply Chain Ltd was established as a joint venture between Adani Logistics Ltd and Riddhi Infocom Solutions LLP. Adani Logistics had initially subscribed to a 50% stake in the company on October 31, 2023.
Veracity operated in the logistics sector, providing last-mile delivery solutions to clients by leveraging a digital transport management system. The platform facilitated efficient container movements from inland depots to customers.
For the financial year ending March 31, 2025, Veracity Supply Chain Ltd reported the following key financial figures:
These numbers indicate the scale of operations during the period in which the joint venture was active.
Riddhi Infocom Solutions LLP, the counterparty in this transaction, was the original joint venture partner of Adani Logistics in Veracity. Importantly, Riddhi does not belong to the promoter or promoter group of Adani Ports and Special Economic Zone Ltd, nor is it affiliated with any group companies of the Adani Group.
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The termination of the joint venture between Adani Logistics Ltd and Riddhi Infocom Solutions LLP highlights a strategic restructuring of Adani Logistics’ investments in the supply chain sector. With the stake sale finalised and compliance norms met, the transaction marks a clean exit from the majority holding while maintaining a symbolic presence in Veracity Supply Chain Ltd.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Jun 21, 2025, 11:21 AM IST
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