Currently, the brownfield port in Odisha is capable of handling 20 MTPA.
Indian billionaire Gautam Adani has been expanding his business empire. He is one the richest businessmen in India and world. Adani has a real-time net worth of Rs 667390 crore as per Forbes. His Adani Group works in various sectors including airports, power generation and ports. Now his firm Adani Ports and SEZ has bought under-construction Gopalpur Port in Odisha at enterprise value of Rs 3,350 crore. The port was acquired in 2017 by now debt-ridden Shapoorji Pallonji (SP) Group.
Currently, the brownfield port in Odisha is capable of handling 20 MTPA. The SP Group sold the port as part of its deleveraging strategy with planned asset monetisation. While, Adani Ports and SEZ has a market capitalisation of Rs 282000 crore as of March 26, 2024. The share price of the company was Rs 1305 on Tuesday on NSE. The port had recently signed up with Petronet LNG for setting up a greenfield LNG regasification terminal.
Adani Ports and Special Economic Zone Ltd (APSEZ) in a separate statement also said that it has entered into a definitive agreement to purchase the 56 per cent stake of the SP Group and 39 per cent of Orissa Stevedores Limited (OSL) in Gopalpur Port Limited (GPL). The equity consideration for 95 per cent stake is Rs 1,349 crore, with an enterprise value of Rs 3,080 crore, subject to closing adjustments.
(With inputs from PTI)
READ | Meet daughter of billionaire with Rs 29990 cr net worth, who studied in US, leads Rs 18857 cr company in India as...
The DNA App is now available for download on the Google Play Store. You can find the app at the following link:
Please download the app and share your feedback with us.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Gautam Adani's Rs 282000 crore company buys Rs 3350 crore port from this debt-ridden group")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}