Adani Ports & SEZ (APSEZ) has won the bidding for Karaikal Port with a Rs 12 billion offer that surpassed that of rival Vedanta, according to a report citing unnamed sources. Bidding for the port was conducted under the Insolvency and Bankruptcy Code (IBC) guidelines. The lenders to Karaikal Port met last week to approve APSEZ's offer, which will now be taken to the National Company Law Tribunal (NCLT) for final approval. The 600-acre port is being built under a public-private partnership between the government of Puducherry and Chennai-based MARG. Contact: Adani Ports & SEZ Tel: 079-2656 5555 Website: www.adaniports.com