This will result in Adani Ports and Special Economic Zone (APSEZ) increasing its stake from 75% to 100% in Krishnapatnam Port.APSEZ announced the acquisition of the residual 25% stake in Adani Krishnapatnam Port for Rs 2,800 crore from Vishwa Samudra Holdings. Together with the 75% ownership acquired in October 2020, the acquisition implies an enterprise value of Rs 13,675 cr implying an EV/ FY21 EBITDA multiple of 10.3x.
Krishnapatnam Port being India s second largest private sector port has a strong growth potential with a masterplan capacity of 300 MMTPA. The investment is in line with company s strategy to increase its footprint in Andhra Pradesh.
Krishnapatnam Port is engaged in the business of handling containers, coal, break bulk and other bulk cargo including liquid cargo. Krishnapatnam Port is an all-weather, deep water port has multi-cargo facility with a current capacity of 64 MMTPA (million metric tonnes per annum). With a waterfront of 20 km and 6,800 acres of land, K
ITC has allotted 25,08,020 Ordinary Shares of Rs 1/- each, upon exercise of 2,50,802 Options by Optionees
under the Company s Employee Stock Option Schemes on 25 February 2021.
Consequently, with effect from 25 February 2021, the Issued and Subscribed Share Capital
of the Company stands increased to Rs 1230,78,69,771/- divided into 1230,78,69,771 Ordinary
Shares of Rs 1/- each
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