Gangavaram port: Adani Ports set to buy 58.1% stake from promoters for over ₹3,600 crore
March 15, 2021
Deal helps APSEZ take management control of the port
Adani Ports and Special Economic Zone Ltd (APSEZ) is set to acquire the 58.1 per cent stake held by DVS Raju and family, the promoters of Gangavaram Port Ltd, in a deal worth more than ₹3,600 crore that helps raise its stake to 89.6 per cent in the port located in Visakhapatnam.
Raju and family own about 30 crore shares in Gangavaram Port Ltd and the deal is said to have been struck at ₹120 a share, multiple sources said.
On March 3, APSEZ said it has acquired the 31.5 per cent stake held by Windy Lakeside Investment Limited (an affiliate of private equity firm Warburg Pincus LLC) in Gangavaram Port Limited (GPL) at ₹120 a share for ₹1,954 crore.
Sarguja Rail acquisition not to affect Adani Ports credit quality: Moody s business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Adani Ports stock hits all-time high as Warburg Pincus to invest Rs 800 crore
Adani Ports stock touched an all-time high of Rs 768.4, up 2.65% against previous close of Rs 748.55 on BSE
BusinessToday.In | March 8, 2021 | Updated 13:30 IST
Adani Ports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Adani Ports share hit its all-time high today after the firm sold 0.49 percent stake to Windy Lakeside Investment Ltd, an affiliate of private equity firm Warburg Pincus for Rs 800 crore.
Adani Ports stock opened with a gain of 2.38% at Rs 766.40 on BSE today. The share touched an all-time high of Rs 768.4, up 2.65% against previous close of Rs 748.55. Adani Ports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Adani Ports share rises 3% after firm buys stake in Gangavaram Port for Rs 1,954 crore
Adani Ports and Special Economic Zone share touched an intraday high of Rs 749.85 , rising 2.78% against earlier close of Rs 729.55 on BSE
BusinessToday.In | March 4, 2021 | Updated 17:19 IST
Adani Ports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Adani Ports and Special Economic Zone share rose nearly 3% in early trade after the firm said it acquired 31.5% stake in Gangavaram Port Limited (GPL) which was earlier held by Windy Lakeside Investment Limited (an affiliate of Warburg Pincus). The deal is valued at Rs 1,954 crore subject to certain regulatory approvals.
Profit taking may sink Nifty 200 points at open
March 04, 2021
×
Most Asian-Pacific markets slumped in excess of 1% in early trade on Thursday while US stocks declined overnight
After gaining sharply in the last three days, Indian markets are likely to witness profit booking on Thursday. Clues from SGX Nifty and global markets too indicate a cooling-off of the bull party. SGX Nifty is currently ruling at 15,074, down about 220 points, against Nifty futures, which closed at 15,298.65 on Wednesday.
Most Asian-Pacific markets slumped in excess of 1 per cent in early trade on Thursday while the US stocks declined overnight, with Nasdaq being the biggest loser by 2.70 per cent. The Dow Jones Industrial Average slipped 0.40 per cent and the S&P 500 1.31 per cent.