The Adani group also faced fierce opposition to its plans in Australia, which were significantly bigger and more challenging. Worried about the domino effect the opposition to the Myanmar port could have on the group’s investments elsewhere, the Adani Group stopped all work on the Sittwe Port., Business News, Times Now
Adani Ports and Special Economic Zone Ltd. has commenced a tender offer to purchase for cash up to $130 million, or Rs 1,066.83 crore, in aggregate principal amount of the outstanding 3.375% senior notes due 2024.
The purpose of the offer is to partly prepay the company's near-term debt maturities and to convey a comfortable liquidity position, the Adani-group company said in an exchange filing on Monday.
Adani Ports and Special Economic Zone Ltd.’s acquisition of Puducherry-based Karaikal Port Pvt. can become a value-adding deal with an improvement in the port's profitability over the next two years, according to Morgan Stanley.
The Karaikal Port’s Ebitda per million tonne of cargo handled was Rs 186 in the financial year 2021–22, while the number was Rs 292 for India’s largest private port operator, the brokerage said.
Karaikal Port is an all-weather deep-water port on India’s eastern coast that was developed on the Build, Operate, and Transfer format under the Public-Private Partnership by the Government of Puducherry.