CCI approves Adani Ports 89 6% stake buy in Gangavaram Port origin-businesstoday.intoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from origin-businesstoday.intoday.in Daily Mail and Mail on Sunday newspapers.
Gangavaram port: Adani Ports set to buy 58.1% stake from promoters for over ₹3,600 crore
March 15, 2021
Deal helps APSEZ take management control of the port
Adani Ports and Special Economic Zone Ltd (APSEZ) is set to acquire the 58.1 per cent stake held by DVS Raju and family, the promoters of Gangavaram Port Ltd, in a deal worth more than ₹3,600 crore that helps raise its stake to 89.6 per cent in the port located in Visakhapatnam.
Raju and family own about 30 crore shares in Gangavaram Port Ltd and the deal is said to have been struck at ₹120 a share, multiple sources said.
On March 3, APSEZ said it has acquired the 31.5 per cent stake held by Windy Lakeside Investment Limited (an affiliate of private equity firm Warburg Pincus LLC) in Gangavaram Port Limited (GPL) at ₹120 a share for ₹1,954 crore.
Shares of Adani Ports and Special Economic Zone (APSEZ) rose on Monday morning on the company s announcement that Windy Lakeside Investment Ltd, a unit of Warburg Pincus, will invest Rs 800 crore in the company.The Warburg Pincus arm would pick .
Adani Ports stock hits all-time high as Warburg Pincus to invest Rs 800 crore
Adani Ports stock touched an all-time high of Rs 768.4, up 2.65% against previous close of Rs 748.55 on BSE
BusinessToday.In | March 8, 2021 | Updated 13:30 IST
Adani Ports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Adani Ports share hit its all-time high today after the firm sold 0.49 percent stake to Windy Lakeside Investment Ltd, an affiliate of private equity firm Warburg Pincus for Rs 800 crore.
Adani Ports stock opened with a gain of 2.38% at Rs 766.40 on BSE today. The share touched an all-time high of Rs 768.4, up 2.65% against previous close of Rs 748.55. Adani Ports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Warburg Pincus affiliate to buy 0.49% in APSEZ for Rs 800 crore
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Last Updated: Mar 08, 2021, 07:06 AM IST
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About 10 million equity shares will be allotted to the investment company at a price of Rs 800 each, Adani Ports informed, resulting in a premium of 6.7% on the stock’s last closing price.
The Adani Ports and Special Economic Zone stock closed at Rs 749.65 apiece on National Stock Exchange on Friday.
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Adani Ports & SEZ on Sunday said it is issuing 1 crore shares, or 0.49%, of its equity to an affiliate of Windy Lakeside Investment, an affiliate of Warburg Pincus for Rs 800 crore.