Adani Ports Krishnapatnam Port acquisition is second port acquisition on east coast.
Adani Ports and Special Economic Zone (APSEZ), the country s largest private port and logistics company, increased its stake in Krishnapatnam Port in Nellore district of Andhra Pradesh to 100 per cent from 75 per cent. Adani Ports acquired Vishwasamudra Holdings 25 per cent stake in Krishnapatnam Port for Rs 2,800 crore. The 100 per cent acquisition of Krishnapatnam Port implies a 10.3 times multiple on FY21 earnings before interest, tax, depreciation and amortization (EBITDA) and further enhances shareholder value, Adani Ports said in a statement.
Last month, Adani Ports had acquired controlling stake in Gangavaram Port (GPL) in Andhra Pradesh from DVS Raju Family for Rs 3,604 crore, taking its stake in Gangavaram Port to 89.6 per cent.
Board mulls extension of approval for Wockhardt, Mundra Solar’s SEZ units
March 15, 2021
The Board of Approval (BoA) meeting for SEZs is scheduled on March 18 - istock.com/djedzura
The Board of Approval (BoA) meeting for SEZs is scheduled on March 18 - istock.com/djedzura×
Await inspection, nod to start production
Pharmaceutical major Wockhardt has sought a one-year extension of approval for its proposed inhaler and nasal dosage manufacturing unit at the Wockhardt Infrastructure Development SEZ in Aurangabad due to a delay in regulatory approvals from agencies such as the US Food and Drug Administration (USFDA), on account of the Covid-19 pandemic, as per the agenda of the Board of Approval (BoA) meeting for SEZs scheduled on March 18 .