A spokesperson of the Adani Group junked all “nefarious attempts” to malign the group by linking it to the incident and said neither the Adani Group nor any of its subsidiaries are directly or indirectly associated with the tunnel’s construction.
Post-acquisition of 25% stake, Krishnapatnam Port will become wholly
owned subsidiary of the Company.
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. With a waterfront of 20 km
and 6,800 acres of land, Krishnapatnam Port has a master plan
capacity of 300 MMTPA and a 50 year concession.
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Private sector ports and logistics company Adani Ports and Special Economic Zone Ltd. (APSEZ) is acquiring the residual 25 per cent stake in Adani Krishnapatnam Port Ltd., (Krishnapatnam Port) for Rs 2,800 crore. With this, APSEZ will increase its stake from 75 per cent to 100 per cent in Krishnapatnam Port, the country s second largest private sector port. The acquisition will be completed by buying 25 per cent from Vishwa Samudra Holdings. Together with the 75 per cent ownership acquired in October 2020, the acquisition implies an enterprise value of Rs 13,675 crore implying an EV/FY21 EBITDA multiple of 10.3x. Krishnapatnam Port is located on the east coast of India in Nellore district of Andhra Pradesh (180 km from Chennai Ports) close to the border between Andhra Pradesh and Tamil Nadu. It is an all-weather, deep water port and has a multi-cargo facility with a current capacity of 64 MMTPA. With a waterfront of 20 km and 6,800 acres of land, Krishnapatnam Port has a maste