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Adani Ports rises as Warburg Pincus to invest Rs 800 crore

Adani Ports & Special Economic Zone rose 1.12% to Rs 756.95 after the company s board approved an allotment of upto 1 crore equity shares to Windy Lakeside Investment on a preferential basis.Windy Lakeside Investment is an affiliate of private equity firm Warburg Pincus. The shares will be issued on a preferential basis at a price of Rs 800 per equity share, aggregating to Rs 800 crore. Post allotment, Windy Lakeside Investment will hold 1 crore equity shares, constituting 0.49% of the share capital, of Adani Ports. The transaction is subject to the approval of regulatory/statutory authorities and the shareholders of the company. Further, Adani Ports announced that an extraordinary general meeting (EGM) of the firm s shareholders will be held on April 6 to seek approval for the proposed preferential issue.

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