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Updated Mar 07, 2021 | 20:25 IST
Apart from this, the board approved the issue of notice convening an extraordinary general meeting (EGM) of the shareholders of the company to be held on April 6 through video conferencing. Warburg Pincus to invest Rs 800 crore in Adani Ports for 0.49% stake
New Delhi: Windy Lakeside Investment Ltd, an affiliate of private equity firm Warburg Pincus, will invest Rs 800 crore in India’s largest private port operator Adani Ports and Special Economic Zone Ltd (APSEZ) for a 0.49% stake in the company, according to a regulatory filing.
About 10 million equity shares of face value of Rs 2 per share will be allotted to the investment company at a price of Rs 800 each, said Adani Ports.
Adani Ports and Special Economic Zones (APSEZ) Ltd is acquiring a 31.5 per cent stake held by an affiliate of Warburg Pincus in Gangavaram Port Ltd (GPL) and certain rail assets from the promoters, taking its market share in the country’s ports to 30 per cent.
In a late evening announcement, Adani Ports said it will acquire the stake held by Windy Lakeside Investment Ltd, an affiliate of Warburg, in Gangavaram for Rs 1,954 crore, subject to regulatory approvals.
Adani Ports said they were also in discussions with Gangavaram promoter DVS Raju and family for their 58.1 per cent stake, translating to around 30 crore shares, in the port.