Warburg Pincus affiliate to buy 0.49% in APSEZ for Rs 800 crore
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Last Updated: Mar 08, 2021, 07:06 AM IST
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About 10 million equity shares will be allotted to the investment company at a price of Rs 800 each, Adani Ports informed, resulting in a premium of 6.7% on the stock’s last closing price.
The Adani Ports and Special Economic Zone stock closed at Rs 749.65 apiece on National Stock Exchange on Friday.
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Adani Ports & SEZ on Sunday said it is issuing 1 crore shares, or 0.49%, of its equity to an affiliate of Windy Lakeside Investment, an affiliate of Warburg Pincus for Rs 800 crore.
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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.
At meeting held on 07 March 2021The Board of Adani Ports & Special Economic Zone at its meeting held on 07 March 2021 has approved the issuance, offer and allotment of 1 crore equity shares of Rs 2 each to Windy Lakeside Investment at a price of Rs. 800 per equity share (including premium of Rs 798 per share) aggregating Rs 800 crore.
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The board of directors of Adani Ports and Special Economic Zone (APSEZ) approved to issue up to 1 crore equity shares to Windy Lakeside Investment (Windy) at a price of Rs 800 per equity share, for an aggregate consideration of up to Rs 800 crore.
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