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Adani Ports on a roll with three big acquisitions in five months | Hellenic Shipping News Worldwide

Adani Ports on a roll with three big acquisitions in five months With three big acquisitions having a combined value of ₹14,659 crore in five months, Gautam Adani-led Adani Ports and Special Economic Zone Ltd (APSEZ) is on a roll. On March 3, APSEZ acquired a 31.5% stake in Gangavaram Port Ltd (GPL) from a unit of private equity firm Warburg Pincus LLC for ₹1,954 crore and said it was in talks with D V S Raju and family, the promoters of the port located in Visakhapatnam, for buying their 58.1% stake in GPL. Gangavaram is APSEZ’s second big acquisition in Andhra Pradesh, India’s second biggest maritime state by cargo volumes handled, after picking up a 75% stake in Krishnapatnam Port Co Ltd (KPCL) for an enterprise value of Rs12,000 crore on October 5.

Windy Lakeside Investment picks stake worth Rs 800 cr in Adani Ports

The Board of Directors of Gautam Adani-led Adani Ports and SEZ Limited has approved the issuance, offer and allotment of up to 10,000,000 equity shares of face value of Rs 2 each to global private equity form Windy Lakeside Investment Ltd, not belonging to the promoter or promoter group of the company, The shares will be issued on a preferential basis in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws, at a price of Rs 800 per equity share (at a premium of Rs 798 per equity share) aggregating to Rs 800 crore.

Adani Ports on a roll with three big acquisitions in five months

Adani Ports on a roll with three big acquisitions in five months March 05, 2021 On the prowl for more as promoters look to cash in on the stress situation With three big acquisitions having a combined value of ₹14,659 crore in five months, Gautam Adani-led Adani Ports and Special Economic Zone Ltd (APSEZ) is on a roll. On March 3, APSEZ acquired a 31.5% stake in Gangavaram Port Ltd (GPL) from a unit of private equity firm Warburg Pincus LLC for ₹1,954 crore and said it was in talks with D V S Raju and family, the promoters of the port located in Visakhapatnam, for buying their 58.1% stake in GPL.

Stocks to watch: Adani Ports, Ircon Int l, Airtel, HDFC, PNB Housing Fin

Stocks to watch: Adani Ports, Ircon Int l, Airtel, HDFC, PNB Housing Fin
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Adani Ports crosses Rs 1 trillion-mark in market capitalisation

Intraday, shares of APSEZ made a 52-week high at Rs 492.85 per share on the BSE. Barclays, Citigroup, DBS Bank, MUFG, and Standard Chartered were global coordinators, book-runners, and lead managers. AICTPL is a container terminal operating company based out of Mundra, with capacity of over 3.1 million TEUs. The quay length of 1460 meters and a deep draft of 17.5 meters makes AICTPL a prime destination for transshipment cargo. However, shares of APSEZ ended at Rs 483.75 per share, up 1.14 percent from previous close with market capitalisation at Rs 98,285.99 crore. Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising ou

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